Financial problems by very definition cause big problems for the businesses who are struggling and even failing.
It's a world full of jargon which can be very confusing until it is properly explained and understood.
That's why it is essential for business owners to find an accountant who they can trust and who will help them with financial management issues in their businesses. As a business gets bigger it may need a part time finance director or virtual finance director who is a finance expert who is employed by the business and gets a much deeper understanding of it.
Alternatively the business owner can improve his or her own financial awareness by working with a business coach or a more specialised finance coach.