Top 3 Reasons Why Small Businesses Fail and How to Avoid Them

Photo caption: By adopting a “lean and mean” cash flow mindset, ensuring steady demand for your product, and tapping skilled leadership, you can ward off the three biggest threats to failure. Photo credit: Getty Images / aldomurillo. Article by Emily Heaslip. CO by US Chamber of Commerce – December 20, 2023.

Small businesses fail at an alarmingly high rate. Here’s how to mitigate the risks that all new ventures face.

Starting a small business takes patience, perseverance, and a lot of hard work. It’s not easy to launch a new venture: Data from the U.S. Bureau of Labor Statistics shows that nearly half of all startups fail within the first five years. […]

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