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Why Small Companies Fail -Reason 2

 Lack of Internal Controls

There are several elements of existence that heighten the failure rate of a small business. The first condition is the lack of understanding and utilization of proper accounting methodologies, and the second condition is poor utilization of internal controls. In this article we will cover how and why a small business owner needs to monitor the internal “heart beat” of an operation for maximum profitability, and the consequences of negating the process due to a myriad of reasons.

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