According to Parliament Business Statistics 2015 there were about 5.4 million small and medium enterprises (SMEs) in UK of which 5.1 million (95%) were micro-businesses employing 0-9 people. Businesses in the service industries accounted for 79% of employment and 71% of total turnover, construction sector business accounted for 18%, manufacturing firms accounted for 5% and much more ranging from recreation to retail businesses. Good news is that in 2013 & 2014 in the UK, business births outnumbered the business deaths. The success of a business depends on various factors such as having a comprehensive business plan, strategies, financial forecast, resources and business management skills. Telegraph highlights that half of UK start-ups fail within first five years because of growth barriers in the UK tax system, cost of running a business and late payments or cash flow issues.
In the early phase as a business sole traders, self employed, freelancers, limited companies with a very limited budget have to adopt a bootstrap business model with a do it yourself (DIY) mindset. Bookkeeping and accounting will be the last thing on their mind at the end of the day and most of them leave it to the last minute for working out the year end HMRC tax returns. Being an all rounder can be daunting. Not only one’s energy levels drop overtime so does his/her enthusiasm. Instead of hiring someone to do the most time consuming tasks such as accounting or making use of the pricey services and apps available online, many SME businesses get log jammed for days sorting out their accounts, wasting their precious time which could have been used productively for building their businesses instead.
We have a better solution for this. What if you can have your own artificial intelligent (AI) bot as an accounting assistant which can raise invoice receipts, workout expenses, give an instant report on sales & payments, profit/loss and the account balance… sounds very cool right? For FREE!!! even better don’t you think? You got it! That is what ReachRobo does and offer. With our accounting chatbot you can do all of this directly from your facebook messenger, get all these tasks done and view the reports on the go. Your accounts will be updated automatically. You can access, view and download documents as necessary directly from your dashboard on our website using a mobile, ipad or web browser.
Still don’t understand how it actually works watch our ReachRobo in action on this video below
Just look for ReachRobo on facebook, sent a friend request & once your request is accepted that is it. Start chatting with your own accounting assistant chatbot which will keep you upto date with your accounts. Since we have lifted the huge accounting burden off your shoulders, don’t forget to give us “thumbs-up” on facebook so that we can keep you informed of our future offers and promotions, also SHARE the good news with others and the businesses you know.