Do you understand your financial situation?
• 8 out of 10 new businesses fail within the first three years
• 80% of new businesses fail within the first five years
• 28% of businesses declaring bankruptcy cite problems with the financial structure of the company as the main cause of failure
These statistics shouldn’t be shocking since, as a society, we tend to live on credit and way beyond our means, and we all know by the state of the economy that hasn’t got us very far. However, when you have a business and your livelihood and the livelihood of others depend on your ability to manage the finances properly, you need to have a system and stick to it. If you aren’t good with managing your money than hire someone that is. Don’t just hope for the best.






