Investigation on Benefits of Self-Conducted Audits with Small Businesses

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Small business specialist, BizOffice.com, records the benefits business managers find after completing audits. Searching for existing or potential problems rather than waiting for them to present themselves helps small businesses grow faster with more success.

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BizOffice.com’s audit offers “a methodology for enhancing the success rate of growing small businesses. This methodology helps the small business manager to critically assess the strengths and weaknesses of all facets of the business”.

BizOffice.com, a leading website in small business advice, suggests business owners conduct personal audits using three audit checklists provided by their website. The management audit, the operations audit, and the financial audit target three areas of business for managers to focus on when reviewing their problems.

According to BizOffice.com, their authors “have linked the seven critical business functions, basic planning, general bookkeeping and accounting practices, financial planning and loan proposals, sales and marketing, advertising and promotion, personnel and production under three major audits”.

The authors involved in developing the audits analyzed 900 student counselors’ case reports complied by the Small Business Institute (SBI). These reports reveal the use of outside consultants by businesses to locate areas of improvement in business affairs, basic planning, business practice, accounting, finance and loan procurement, advertising and promotion, market research, feasibility studies and operations (http://www.bizoffice.com/audit-checklist-for-the-growing-business).

An additional 50 client cases were selected from the Small Business Development Center (SBDC), which similar to the SBI identifies areas for improvement in a business and gives a basic overview of a business’ operations.

The three audits provided by BizOffice.com are not exhaustive, managers are still required to provide personal knowledge of past practices and information on what does and does not work. The audits address the critical areas for business advancement. The goal of every business is to affirmatively answer each area of the audit without problem.

Business survival is not easy. Auditing your business without the use of a consultant saves funds that can then go back into your business (http://www.bizoffice.com/audit-checklist-for-the-growing-business). BizOffice.com’s audit offers “a methodology for enhancing the success rate of growing small businesses. This methodology helps the small business manager to critically assess the strengths and weaknesses of all facets of the business”.

Media Contact Info
Michaela Brady
Broad Eye Solutions, LLC., communications
508-921-0856
http://www.broadeyesolutions.com/
mbrady(at)broadeyesolutions(dot)com

SOURCE
BizOffice.com

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Michaela Brady

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