Launching your own business needs careful planning, whether you’re taking on a side hustle or setting your sights on being the next Bill Gates or fashion entrepreneur, Tory Burch.
“Small businesses are fragile under normal conditions, with about 70% failing within the first two years of operation, mainly because of cash flow issues,” says Sarah Nicholson, commercial manager of JustMoney.
“The pandemic has made matters even more precarious, so it’s essential to do your homework and get your personal finances sorted before ordering those new business cards.”
Nicholson offers seven tips for startups: