Firstly, back-office management comes at extreme costs. Let's take a quick look at some numbers. 25M micro-and small- enterprises in the EU spend approximately €10.000.000.000 yearly on back-office operations. On average, European SMEs spend about 2.5%
of their revenue on tax compliance only (outside of being taxed). While about 40% of business owners take accounting as the worst part of the business, according to the research by Zenefits
. Another horrific number comes from the UK, where the cost of unresolved legal problems for SMEs are estimated at £13.6B
, while UK startup spends around £22 000 on back-office procedures in the first year of operations on average.