Lessons Learned

Starting a new business is not always as easy as it seems. On one hand, you have your service, item, idea, or something that you feel is a great thing that everyone will want, on the other you have reality. Starting a business is filled with potholes, and hurdles. Quite frankly 67%(1) of new businesses fail. Most fail within the first 3 years. There can be many reasons why a new business fails, but there are four main top reasons.

1. Financing Hurdles

2. Inadqate Leadership

3. Poor planning

4. Marketing mishaps

Here at CLE Bookkeeping, we can help you overcome the financial hurdles. We simply help you understand how your finances are being driven and what the driving force is.  With this knowledge, you can adjust your course as needed to meet your financial goal. Underestimating your expenses and capital outlay is easy to do. 

For more information visit the linked Investopedia article.

(1) Horton, Melissa. “The 4 Most Common Reasons a Small Business Fails.” Investopedia, Investopedia, 16 Jan. 2021, www.investopedia.com/articles/personal-finance/120815/4-most-common-reasons-small-business-fails.asp.