Business owners face a number of stress triggers, from keeping up with government regulations and compliance to poor cashflow, competition, theft from employees, high expenses, tracking accounts and finances, filing taxes, managing sales and inventory, problems with operations and time consuming repetitive tasks.
The British Association for Counselling and Psychotherapy uncovered that 79% of small business owners find running a business stressful and almost 1 in 5 (19%) feel like giving up running their business every day. Despite the pressures that small business owners face, almost three quarters (71%) agreed they often pretend to family, friends and work colleagues that everything is okay. More than two thirds (68%) feel like they have nobody to talk to about their problems, 43% of whom claimed it was because no one understands the pressures of running a business, while a further 35% don’t want to burden others with their problems.
While you run the risk of losing ground with your business when stress goes unhandled, you also put yourself at risk of developing a number of health complications.
One of the easiest, but most overlooked stress solutions for business owners, especially small business owners is, adopting a Point of Sale (POS) software.
Uzapoint recognizes the challenges that you go through hence the need to create a solution that is designed to relieve stress for you, here’s how:
1. Keeping up with tax compliance
Taxes are an everyday aspect for most business owners. Management, Proper tracking and compliance is vital to avoid the risk of incompliance which may then be a source of stress in the long run.
Uzapoint calculates various forms of taxes namely sales tax, purchase tax and levy.
The data is updated in real time after making each sale and purchase and reports can be generated listing total tax amounts for certain time periods. With this, filing taxes and staying compliant with regulations is simplified giving you a stress free life.
2. Tracking accounts and financials
Keeping tabs on small business finances is vital, but one of the major causes of stress. Digitizing bookkeeping in business reduces the burden significantly.
Uzapoint comes with an accounting module within which business owners can record and analyze expenses, credit sales, credit purchases, banking transactions and generate accounts reports. Analytics are updated in real time enabling business owners to properly and efficiently track and manage their financials.
3. Controlling Inventory
Manually keeping up with inventory on pen and paper is hectic. Imagine losing your book or having it damaged by your toddler in their curiosity escapades. Incorporating technology in inventory management which updates inventory after every sale, generates reports with real time analytics is key to track the real-time status of the inventory.
Aside from this, Uzapoint identifies the best-selling and least-selling products which gives the opportunity to optimize inventory and plan sales strategies accordingly.
4. Curbing employee theft
One cause of employee theft is lacking visibility over stock and payments. Keeping paper records on these creates a loophole for theft whereby business owners may not be able to detect discrepancies in good time. This leads to loss of stock and money.
With Uzapoint, business owners are able to keep an eagle eye over inventory, track all activities pertaining to inventory from purchase to sale and validate payments thereby safeguarding the business.
5. Saving time
Time management can cause stress since you may not be in a position to handle planned tasks on time. There are numerous tasks to be done which leads business owners into working long hours, focusing on repetitive tasks leaving no room to focus on key areas such as growing the business and building relationships with customers to foster repeat purchases and loyalty.
Uzapoint simplifies processes and reduces time spent performing repetitive tasks thus making the workload more manageable.
Learning to manage stress and finding solutions for the stress triggers is crucial for every business owner. One of the key solutions is adopting technology to manage the various aspects of business management that