In an era of increasing entrepreneurial endeavours, small businesses contribute significantly to economic growth and job creation. However, many small business owners face challenges in comprehending and utilising complex financial reports, which can hinder informed decision-making and long-term viability. To address these challenges, the research proposes and evaluates strategies for simplifying financial reports without compromising the accuracy and integrity of the information. This project delves into the potential benefits of using plain language, visual aids, and technology tools to present financial data in a more accessible manner. By leveraging principles of design thinking and user- centered design, the study explores how financial reports can be reimagined to cater to the cognitive and informational needs of small business owners.
The effectiveness of the proposed simplification strategies is assessed through both qualitative and quantitative methods. By bridging the gap between financial complexity and business decision-making, this thesis aspires to empower small business owners, enabling them to make informed financial choices and contribute more effectively to economic growth.
