The convenience offered by today’s technology can be one of the driving factors of many Indonesian people who finally decide to start a business. One of them is that more and more offline businesses are turning into online businesses because it is felt to be more efficient and easier for customers or business people themselves.
This is what ultimately makes business growth in Indonesia increasingly high in various sectors, one of which is in the MSME sector which is mushrooming in various business lines such as culinary, fashion, automotive, handicraft and many more. Data obtained in 2017 shows that the development of MSMEs in Indonesia increased by 2.06% from the previous year and as many as 59.2 million MSMEs in Indonesia have utilized the online platform in marketing their products.
From these data, it can be seen that the development of the business itself is inseparable from the technology that is developing now. But of all the conveniences provided by the technology itself, a business must have other problems that must be resolved in order to grow. Starting from product problems, marketing or financial problems. The following are common problems that usually occur in a business or MSME in Indonesia.
Do not Know How to Grow a Business
Many of the business people who have been in business for years do not know how to develop the business, this can be as simple as not really recognizing market needs. An example is when your business is engaged in fashion and you sell two different types of shoes. If you don’t know the highest number of product sales from these two shoe products, you could have made the wrong business decision by producing more shoe products that the market doesn’t really like.
If you have experienced problems like this, you can take advantage of the Item Stock feature in the accounting application to track the most product sales from your store or business so that the business decisions you make can also be more precise and help you grow your business.
As you know, capital is one important factor to be able to start a business. However, if you do not have the capital then you can not start a business at all? certainly not like that. Sources of own capital can be divided into two, namely internal capital, the capital obtained from the business itself which is usually from sales or external capital from outside, external capital can be in the form of loans or investors who want to invest in your business.
Because internal capital is usually difficult to use to develop a business because of its limited nature and difficult to experience significant increases, external capital is the opposite. In external capital, you must be able to convince investors to want to invest in your business or in a smaller scope, you must be able to convince your friends to lend capital.
One factor that can convince investors to want to invest in your business is proof that your business finances are stable and to be able to get this data, you can use the Reports feature in an accounting application to be able to show your business financial data in more detail and transparency.
Don’t Know How to Manage Debt
Debt and business is a relationship, which on one hand can help your business development or even backfire and destroy your business. For this reason, it is important for you to have knowledge on how to manage debt well so as not to give or have a negative impact on business.
To simplify managing debt and business receivables, an accounting application can help you automate this process. You can keep track of business expenses, keep track of debt payments, and track debts that you haven’t paid.
If you experience the problems above, maybe this is the time to consider using an accounting application for your business. You can entrust the management of business finances and stock in the Journal.