How to Pave the Way to Success for Any New Small Business
Starting a new business is an exciting endeavor…but it can also be a little terrifying. Often times the dream of owning a business cloud the inevitable challenges and risks involved.
Unfortunately, most emerging businesses are not positioned for success. According to the U.S. Bureau of Labor Statistics, about 20% of small businesses fail in their first year, and about 50% fail in their fifth year.
Although these statistics are intimidating, there are ways to avoid startup failure. Success is oftentimes structured in the early stages of starting a business. Planning strategies such as knowing the marketplace and determining the business entity, combined with drive and tenacity, pave the way for running a successful business operation.
The following white paper includes:
Top Five Reasons Small Businesses Fail
Critical Puzzle Pieces for Success
Determining the Business Entity and Tax Implications