The majority of persons operating small businesses are self motivated and seek business independence. Statistics highlight that a considerable number of small business persons, whilst having skills in their own particular trade, occupation or profession, have very little knowledge of general management and bookkeeping skills, nor do they understand the reasons for management reports.
They do not understand the "business of the business". A large number of persons in small business consider that they can ignore the peripheral activities such as:
However, the neglect of these peripheral activities can do more to erode the business base than anything else.
Paper 001-001 contains an overview of the operations of a small business and contains comment on: