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Top 5 Financial Mistakes Made by Small Businesses

Despite variations in the suggested figures for small business failures, it is still the case that a large proportion of small businesses and start ups will fail. The primary reason for small business failure is often financially orientated. This article will highlight five key ways a business can prevent itself from falling into a financial state of no return. 1. Financing the Business Based on the Future Once businesses start to get going, an alarming number base current day spending on future predicted incomes. The allure of growing a business quicker through more extensive marketing activities or increasing staff numbers that could be covered by a return in the future is undeniable. Another example could be when a business takes out a loan which should be re payable based on future rev... »