A small business has the potential to waste money on nearly everything it takes to operate. While some business owners do not worry about the small expenses, which add up, others waste money in big ways.
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Not sweating the small costs can be very dangerous for small businesses that already have to work with limited resources. This is why businesses need to keep a keen eye on all of the cash coming in and out of a business. All expenses need to be recorded. Not only does it help you keep track of where your money is going, but over time your expenditure data can identify areas where you can be saving money.