For Xero we surveyed more than 1,200 self-employed small business owners with 50 or fewer employees across North America, including more than 250 in Canada. The aim of the study was to get an understanding of financial literacy in small business owners, and we found that despite 47% of small business owners rating their financial literacy as “high,” nearly half (43%) actively face fiscal challenges in their business due to a lack of financial understanding; 16% of those respondents have not yet recovered.
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Author Notes:
Logan Mine
