If you’re looking at setting up a new business, the statistics for success are never great motivation. According to the Small Business Association, 30% of startups fail within their first two years, while 50% fail within five. After a decade, around two-thirds of all new companies will have closed their doors for good. Furthermore, the second most common reason for failure is lack of cash.
Managing expenses properly plays a pivotal role in the well-being of any company, but budgeting during the early days of your business’s existence forms the cornerstone of a healthy game plan for long term success. With this in mind, we’ve decided to highlight three easy ways of squeezing every penny, to ensure that your shoestring budget-run business has every chance of being a roaring success for many years to come.…Continue reading