PHOENIX, AZ — A new report identified the top reason sole proprietors drive their businesses into the ground. It is not inflation, competition, or market swings. It is receipts.
“Paper receipts and Excel spreadsheets destroy more businesses than the IRS ever could,” said Dr. Martha Keys of the Institute for Entrepreneurial Survival. “They fade, they get lost, and they multiply in glove boxes. For sole proprietors, it feels like death by a thousand paper cuts.”
Local handyman Tony Ramirez knows the pain. “I had shoeboxes full of receipts,” he said. He sat in front of his burned workshop as he spoke. “I tried logging them into Excel, but the formulas broke. One night I snapped. I lit the pile on fire. Best bonfire I ever had. Worst business choice of my life.”
Psychologists say sole proprietors face unique pressure. They juggle clients, invoices, and receipts without the support of HR or finance staff. “It is isolating,” Dr. Keys explained. “And Excel does not care about your mental health.”
The report calls for a radical shift. Sole proprietors must stop clinging to paper and spreadsheets. They need digital tools that actually work.
“Sole proprietors need SparkReceipt more than anyone,” Dr. Keys concluded. “It is not just software. It is fire prevention.”
