Are there any exemptions for small businesses regarding filing accounts?

Yes, many jurisdictions offer exemptions or reduced reporting requirements for small businesses to ease their administrative burden. These exemptions typically apply to businesses that meet specific size criteria, such as having a low turnover, a small number of employees, or limited assets. However, it’s important to note that even if your business is exempt from certain reporting requirements, accurate financial record-keeping remains essential. 

Consult with local regulatory bodies or your accountant to determine the specific exemptions applicable to your business.