Common mistakes to avoid when starting a business
Introduction
Launching a small business can be risky and success is not always guaranteed. Businesses are most vulnerable to failure during the early years of trading, however, with hard work and an awareness of the issues, a new business can be a great success.
This guide highlights the most common mistakes that new business owners make and provides guidance on how to avoid them. This includes:
- poor or inadequate market research
- weak financial planning
- unrealistic goals
- taking your eye off the competition
- poor stock control
- hiring the wrong people
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