Reasons Why Your Business May Fail
According to Bloomberg, 8 out of 10 businesses fail within the first 18 months of operation. That’s a terrifying statistic if you’re a business owner. That simply implies that 80% of those who started blogging or any other online business will fail in it too.
Why do businesses fail? What can make your business fail? How can you avoid them?
1. Lack of Planning:
For many individuals, they desire to be engaged in a business just to make money or to be able to brag about it. They have no clear-cut idea where they want the business to go. They only plan to start a business but they do not do real planning on how to achieve it. Your plan is like your aim. Planning involves everything you need to do and put in place to get to your aim. If there is a plan without proper planning, it is only a matter of time before the plan comes crashing. The popular 6P formula states that: Proper Prior Planning Prevents Poor Performance. read more…
3 Tips For Keeping Proper Tax Records For Your Small Business – And also Making The Tax Authorities Delighted!
Keeping of proper tax records is the least thing that is considered by many small business owners and managers, either when starting or running of their businesses. Adequate preparation will certainly make doing your tax obligations a lot simpler and also make the tax authorities to be pleased with you.
Below are 3 easy ideas for keeping accurate tax records for your small business. read more…