{"id":5088,"date":"2026-06-02T09:33:59","date_gmt":"2026-06-02T09:33:59","guid":{"rendered":"https:\/\/cake.com\/blog\/?p=5088"},"modified":"2026-06-02T13:43:19","modified_gmt":"2026-06-02T13:43:19","slug":"smes-financial-challenges","status":"publish","type":"post","link":"https:\/\/cake.com\/blog\/smes-financial-challenges\/","title":{"rendered":"Small Business Financial Challenges and a Solution by CAKE.com\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Did you know that a whopping 71.2% of early-stage entrepreneurs started a business to build great wealth or a very high income?&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, to reach a steady income that you might consider great wealth, you first need to set up a supporting infrastructure that will stop the money drain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We explored the most common small business financial challenges and offered a solution that will benefit you as a small business owner, your employees, clients, and, of course, your finances.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list key-takeaways\">\n<li>Invoice automation can save a company, on average, $34,116 annually.<\/li>\n\n\n\n<li>Only 17% of projects finish without any delay.&nbsp;<\/li>\n\n\n\n<li>Poor communication at work costs between $9,284 and over $30,000 per employee per year.&nbsp;<\/li>\n\n\n\n<li>CAKE.com offers 3 tools (Clockify, Plaky, and Pumble) that successfully deal with challenges concerning communication, invoicing, and project management.<\/li>\n<\/ul>\n\n\n\n<h2 id=\"undercharging-is-a-constant-threat-to-small-businesses\" class=\"wp-block-heading\">Undercharging is a constant threat to small businesses<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Deciding on the cost of your projects is one of the most important financial aspects of your small business. If you charge too much, you can lose existing clients or not attract new ones. On the other hand, if you\u2019re not charging enough, your business is barely surviving.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Small business owner, <a href=\"https:\/\/www.linkedin.com\/in\/gerry-washack-3267a0a\/\">Gerry <\/a><a href=\"https:\/\/www.linkedin.com\/in\/gerry-washack-3267a0a\/\" target=\"_blank\" rel=\"noreferrer noopener\">Washack<\/a>, admits that underpricing causes initial financial struggles:<\/p>\n\n\n\n<div class=\"wp-block-columns pro-blockquote is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"800\" src=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Gerry-Washack.jpeg\" alt=\"\" class=\"wp-image-5093\" srcset=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Gerry-Washack.jpeg 800w, https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Gerry-Washack-300x300.jpeg 300w, https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Gerry-Washack-768x768.jpeg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>\u201cI priced based on what I thought clients would pay instead of what my time was actually worth, and the result was working more hours for less profit\u201d.<\/em><\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to the already mentioned, undercharging also happens when you have no knowledge of the time that goes into your projects. That said, it\u2019s important to track time and consider both billable and non-billable hours necessary to complete the project, so that you can price your work correctly and charge the client accordingly.<\/p>\n\n\n\n<div class=\"wp-block-group pro-tip\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"wp-block-paragraph\"><strong>Further reading:&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Entrepreneurs often have similar challenges, visions, and plans, statistically speaking. Read all about it in the following article:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/cake.com\/blog\/entrepreneur-statistics\/\">Top Entrepreneur Statistics to Know <\/a><a href=\"https:\/\/cake.com\/blog\/entrepreneur-statistics\/\" target=\"_blank\" rel=\"noreferrer noopener\">When Starting Your Business<\/a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h2 id=\"poor-invoicing-practices-lead-to-an-easily-preventable-money-leak\" class=\"wp-block-heading\">Poor invoicing practices lead to an easily preventable money leak<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Invoicing plays a crucial part in keeping finances in order. Manual invoicing has plenty of setbacks, as it\u2019s time-consuming, costly, and prone to errors. The solution may very well lie in invoice automation. In fact, a study by AMI-Partners, <a href=\"https:\/\/www.concur.com.sg\/resource-centre\/reports\/ami-partners-value-automated-travel-expense-and-invoice-management\" target=\"_blank\" rel=\"noreferrer noopener\">The Value of Automated Travel, Expense, and Invoice<\/a>, shows that automation saves companies:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>530 hours annually per finance employee,<\/li>\n\n\n\n<li>$34,116 on average annually, and<\/li>\n\n\n\n<li>$13 per processed invoice.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This is why it comes as no surprise that 61% of leaders cite automation as their investment priority, according to the <a href=\"https:\/\/acarp-edu.org\/wp-content\/uploads\/2025\/04\/Accounts-Payable-Leadership-Priorities-Report-2025_US_compressed.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Accounts Payable Leaders&#8217; Priorities in 2025<\/a> study by the Institute of Financial Operations &amp; Leadership.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Automating small business finances is a step towards better financial management, since it resolves all the issues that manual invoicing has.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1110\" height=\"564\" src=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Workplace-Collaboration-1110x564.jpg\" alt=\"\" class=\"wp-image-5097\" srcset=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Workplace-Collaboration-1110x564.jpg 1110w, https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Workplace-Collaboration-590x300.jpg 590w, https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Workplace-Collaboration-768x390.jpg 768w, https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Workplace-Collaboration.jpg 1200w\" sizes=\"auto, (max-width: 1110px) 100vw, 1110px\" \/><\/figure>\n\n\n\n<h2 id=\"project-delays\" class=\"wp-block-heading\">Project delays<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Vice President of Business Development at US Professional Funding &amp; US Medical, <a href=\"https:\/\/www.linkedin.com\/in\/chris-cornella\/\" target=\"_blank\" rel=\"noreferrer noopener\">Chris Cornella<\/a><em>, <\/em>states that project delays are directly tied to finances:<\/p>\n\n\n\n<div class=\"wp-block-columns pro-blockquote is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"552\" height=\"552\" src=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Chris-Cornella.jpeg\" alt=\"\" class=\"wp-image-5094\" srcset=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Chris-Cornella.jpeg 552w, https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Chris-Cornella-300x300.jpeg 300w\" sizes=\"auto, (max-width: 552px) 100vw, 552px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>\u201cEvery minute your projects are delayed is another minute you don&#8217;t earn anything.\u201d<\/em><\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">The World Bank\u2019s 2024 research on project delays showed that <a href=\"https:\/\/documents1.worldbank.org\/curated\/en\/099062824153516589\/pdf\/P173110-38cdf7ed-8166-4def-8cd2-fb78946336ef.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">only 17% of projects went without any delay<\/a>. The same study found that 43% of projects experienced delays, but 39% didn\u2019t have information on delays whatsoever. Such a high number of undocumented projects also raises concerns about inadequate project record-keeping.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the same research, 60% of project delays were caused by an improper preparation phase.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Carefully preparing and estimating project cost and time is crucial to completing projects without delaying the outcome.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"630\" src=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Job-security.jpg\" alt=\"\" class=\"wp-image-5098\" srcset=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Job-security.jpg 690w, https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Job-security-329x300.jpg 329w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/figure>\n\n\n\n<h2 id=\"poor-communication-is-an-umbrella-issue-for-all-financial-companies-issues\" class=\"wp-block-heading\">Poor communication is an umbrella issue for all financial companies\u2019 issues<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Whether it\u2019s client or employee communication, it has to be straightforward, transparent, and efficient so as not to mess up finances.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to <a href=\"https:\/\/pumble.com\/learn\/communication\/communication-statistics\/\" target=\"_blank\" rel=\"noreferrer noopener\">Pumble\u2019s Workplace Communication Statistics in 2026<\/a>, the estimated cost of poor communication at work ranges between $9,284 and over $30,000 per employee per year.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cornella paints a gloomy, yet accurate picture of the consequences of poor communication:<\/p>\n\n\n\n<div class=\"wp-block-columns pro-blockquote is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"552\" height=\"552\" src=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Chris-Cornella.jpeg\" alt=\"\" class=\"wp-image-5094\" srcset=\"https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Chris-Cornella.jpeg 552w, https:\/\/cake.com\/blog\/wp-content\/uploads\/2026\/06\/Chris-Cornella-300x300.jpeg 300w\" sizes=\"auto, (max-width: 552px) 100vw, 552px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>\u201cPoor communication causes project scope creep, disagreements, and delays in billing. In turn, this moves your cash farther away from you. At the same time, the fixed costs remain, causing the owner to use their own funds to cover them.\u201d<\/em><\/p>\n<\/div>\n<\/div>\n\n\n\n<h2 id=\"cake-com-offers-3-tools-as-a-unified-solution-to-all-of-these-problems\" class=\"wp-block-heading\">CAKE.com offers 3 tools as a unified solution to all of these problems<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Our CAKE.com Suite is budget-friendly, yet super rich in efficient features, helping small business owners track their working hours, plan projects accurately, and efficiently communicate with their team through 3 tools: Clockify, Pumble, and Plaky.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With <a href=\"https:\/\/clockify.me\/\" target=\"_blank\" rel=\"noreferrer noopener\">Clockify<\/a>, time tracking and billing stop being the things you dread. Knowing where your &amp; your employees\u2019 time goes during the workday makes it easy to notice the patterns you need to change to stop undercharging clients.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With <a href=\"https:\/\/pumble.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Pumble<\/a>, you get effortless team communication, allowing you to speak with your remote employees as if they were in the room with you. We\u2019ve made holding team meetings, giving presentations, or searching through message history incredibly easy and intuitive.&nbsp;<a href=\"https:\/\/cake.com\/blog\/smes-financial-challenges\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With <a href=\"https:\/\/plaky.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Plaky<\/a>, managing projects becomes much more predictable. This is because you get a centralized workspace where all task-related magic happens. All of the files, updates, and communication are in a single location, available to those involved in the specific task.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These three tools are an efficient way to plan and execute your projects flawlessly, have an impeccable communication system, and successfully invoice your clients. You can get them individually, or as part of the <a href=\"https:\/\/cake.com\/bundle\" target=\"_blank\" rel=\"noreferrer noopener\">CAKE.com Bundle<\/a>, at a 53% discount.&nbsp;<\/p>\n\n\n\n<p class=\"has-custom-css wp-custom-css-543d4e63 wp-block-paragraph\">Watch this video to learn more about the tools.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"CAKE.com Suite Demo\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/BFhz-XHcalg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 id=\"financial-drains-dissolve-with-the-right-tools\" class=\"wp-block-heading\">Financial drains dissolve with the right tools<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Small business owners are faced with making many decisions on a daily basis, and we know this can get overwhelming. That\u2019s why simplifying the major aspects of your business, such as communication, project management, time tracking, and invoicing, is wise for your finances.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When you\u2019re properly handling these core elements, you\u2019re not losing money or your time. And, your small business finances are just a few tools away from thriving.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Learn what the most common small business financial challenges are and what efficient ways to resolve them are. <\/p>\n","protected":false},"author":38,"featured_media":5091,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62],"tags":[],"class_list":["post-5088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-workplace-productivity"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Small Business Financial Challenges and How to Fix Them<\/title>\n<meta name=\"description\" content=\"Learn what the most common small business financial challenges are and what efficient ways to resolve them are.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cake.com\/blog\/smes-financial-challenges\/\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cake.com\\\/blog\\\/smes-financial-challenges\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cake.com\\\/blog\\\/smes-financial-challenges\\\/\"},\"author\":{\"name\":\"Tamara Pavlovic\",\"@id\":\"https:\\\/\\\/cake.com\\\/blog\\\/#\\\/schema\\\/person\\\/b6de619945dfaba7283a5566cffad106\"},\"headline\":\"Small Business Financial Challenges and a Solution by 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