Xero has introduced Small Business Insights for free for everyone!
We make no secret that we love Xero here at Flamingo Accounting, but now they have given us another reason to love them more with the introduction of their Small Business Insights.
If you want to compare your performance with other small and medium businesses in the UK then you can do just that with the new Xero tool.
If you want to see how long it is taking other businesses to get their sales invoices paid, how many extra staff businesses are hiring, or how much they are selling overseas then you can do just that at just the click of a button.
Xero has pulled all the information from its over 250,000 subscribers in the UK and combined it into accurate stats that will update monthly. It’s not opinions, or answers give to a questionnaire, just hard, statistical facts taken from real businesses using Xero. Its totally anonymous and aggregated, so none of your individual data or information is made available to anyone else.
Sometimes businesses tend to be a bit down on themselves, particularly in ‘hard times’, but you may not be doing as badly as you think (or as well for that matter!). You may think you have it bad, but if everyone else has it worse then you’re doing ok. Using this free bench-marking tool you can see if you above or below the average for the UK and then can take steps to implement change if needed. For instance, if you take twice as long to get paid for your sales invoices as everyone else in the UK then that’s an issue that needs addressing pretty quickly.
It’s all for free, and not just for Xero users, so make the most of it. Have a look to see how you are performing against other similar businesses and make a plan for change if necessary.
For assistance with this, or anything else, then please get in touch on the details above.