But that is the amount of time each week that the average UK micro-business spends on financial admin, according to a survey by Starling Bank.
The report went on to state that 32% found this to be the most stressful part of running their business. And we are not surprised by that statistic. In our years of working with small businesses, we understand that they want to get on with what they do best, running their business, and not having to deal with the hassle of the financial administration which is a necessary evil of the business world.
So, anything that a small business can do (including having the right accountant in place) to reduce this burden is invaluable.