A Business Coach Perspective on Why Businesses Fail

 

 

As an Accountant and Business Coach, I have worked with many different companies. Over the past few years and since the current recession started, statistics tell us that, on average, approximately five businesses are placed in liquidation or receivership everyday. This is a huge figure for an economy as small as Ireland, resulting in significant loss for the business owner, employees and their trading partners. in an economy as small as Ireland, this is a huge figure and the impact of this makes economic growth nationally very difficult if not impossible.

 

The recent inclination of technology has made significant changes in various industries and businesses worldwide. Accounting, which remained to be manual for the past decades, has also grown significantly through the use of different software that can guide people in their financial growth and journey to financial stability.

 

The fast-paced world we are living in needs a lot of work. And so, we tend to distribute tasks in order to ease the burden off our shoulders. In case of business companies and organizations, one of the things they outsource is their finance sector. They hire accounting firms and professional service providers to ensure that their accounting and auditing are accurate.

 

Jacques Sassin