As a business owner, your business’s financial health is of the greatest importance. There is more to measuring the financial health of your business, however than simply looking at how much money is in your bank. In fact, there are many tell-tale signs that indicate your business is financially unhealthy. Recognising them can make all the difference in ensuring your business survives. Let’s take a look at 5 signs of poor financial health in small businesses.

Running a personal training business can be hard work! Apart from the usual small business compliance requirements such as GST, income tax, and PAYG, you also have to contend with early starts, late finishes, maintenance of gym equipment, client intake and management, marketing, payment, and occupational health and safety issues... it’s a lot to take on! If you’re a personal trainer or someone who is looking to get into this field, we recommend you take on board these accounting tips, so you can run the financial side of your business in the best way possible!