financial

Do You Know Your Numbers? Understanding the Current State of Your Hospitality Business

Do You Know Your Numbers? Understanding the Current State of Your Hospitality Business

In the hospitality industry, it’s all too common for businesses to be run on a cash basis, with owners relying solely on the cash in the till and bank statements to gauge their financial health. Unfortunately, this approach can leave you in the dark about the true state of your business.

Many in the industry start out feeling intimidated by the numbers, handing over the details to a bookkeeper or accountant and trusting that the financial reports they return are accurate.

However, I’ve seen firsthand how this can be problematic. While bookkeepers and accountants may be great at processing invoices and filling in the right boxes, they often lack the experience or confidence to provide the crucial advice you need to steer your business in the right direction.