Business owners are expected to spend an average of $45,000 to $142,000 on digital tools over the next 12 months, according to the Intuit QuickBooks Small Business Survey. This investment is intended to help solve some of the biggest challenges facing small businesses this year and drive new business growth.
Nearly all surveyed business owners (95%) say they have business growth goals for 2023 — but they face some big hurdles on the road to success. Nearly 40% say managing finances and accounting is a top challenge — this comes as no surprise, many new business owners admit they’re not totally confident when it comes to the financial aspects of running a business. Another 35% say they lack time to complete important tasks, and 33% say dealing with customer-related issues is a major challenge.