Common mistakes when setting up in business


Launching a small business can be risky and success is not always guaranteed.

Businesses are most likely to fail during the early years of trading, with 20% of new businesses folding within their first year and 50% within their first three years.

These figures should not scare you off, but should prepare you for some of the challenges entrepreneurs face when starting a business. With hard work and an awareness of the issues, a new business can be a great success.