"Ten Shocking yet common reasons why small businesses fail."

Small businesses are perhaps more common now than they were in previous years. Many people are now aspiring to own their own businesses, because of the uncertainty of the job market. Even those who have had jobs for long periods of time are trying to find what they consider a plan B, in the event that their long-term jobs don’t work out. Truth of the matter is that whatever happens, whether they remain employed or not, the bills still arrive every month. So if one desires to own any kind of assets, for the business or for themselves, then it is imperative that these bills be paid.

Many of these businesses are unable to stand the test of time and many fail a short time after the startup. The statistics of new businesses that fail in today’s society amounts to four out of ten that will not make it to five years. Some of the reasons why small businesses fail include:

• 1.       Inadequate funding
• 2.       Failure to plan
• 3.       Lack of proper structure
• 4.       Wrong choice of staff
• 5.       No proper accounting system
• 6.       Competition too strong, or underestimation of the competition
• 7.       lack of advertising
• 8.       Lack of vision for the company
• 9.       Poor management
• 10.   Poor Customer Service

The most common reason being number one on the list. Most businesses offer credit to customers, some of who will in turn experience hardships which results in their inability to pay for the goods or services that were extended to them on credit. This can cause the business to have a lot of cash tied up in creditors and hinder them from paying their bills when they fall due. Proper funding is important for any business and many people will start a business and invest their own funds. Many are unaware that funding is available, so they take the route that is commonly known to them.

The Business Funding Centers in your area offers information on how to secure funding for your small business on their website. Business owners can visit the site to see if they qualify to receive funding for their businesses. Business owners can search through a list of 581 Government programmes which offer funding to new businesses. If owners are unsure as to whether or not they need, or will qualify for funding, they can look at the list of recipients, read their success stories, or even browse the questions in the FAQ section. The resources that are provided can assist anyone who is interested in starting a new business, or business owners who are in need of a way to provide adequate funding for their cash-strapped businesses.

They can choose from a variety of programmes that can help them in their endeavor. Government programmes, grants and loans are available if the business qualifies. The first step is actually seeing if it qualifies for funding.

How to get more breaks as a business owner

 

How to get more breaks as a business owner

If you have ever wondered about the requirements of starting a small business, or getting a loan for a small business, then you have also wondered about tax breaks that are available from starting the business. Starting a business, or running one is one of the hardest tasks that could ever be undertaken. Owners of small businesses are usually under a lot of stress and are often called upon to make personal sacrifices for their businesses in order to make it a success. Even though they face challenges from finding the resources that they require, the ups and downs of the economy, and hiring and firing employees, they are still optimistic and resilient most of the time.

Securing a loan for starting a small business may not be a possibility for many people, but if that is the case, then they could look into securing grant funding from a variety of sources. Not many people are aware that government grants exist, but for many, securing one is based on certain criteria. There are some instances in which it is not possible to get a grant, but for those who have gotten one, it has been a great way to finance their businesses and enable them to get much needed tax breaks

If you, as a small business owner need information on how to get more breaks for your business, then you may visit the website of the Business Funding Centre near you. They are not affiliated with the government in any way, yet the site has valuable information on how to get tax breaks, or tax credits. It tells you how to become eligible for these breaks and just what type of breaks you are able to get for your business. This information can help you to make better, more informed decisions for your business.

On the site, you can use their funding finder, look at the different schemes, and look at the recipients of funding for their businesses. If you are unsure as to whether or not you will qualify, you may sign up and look at the funding schemes that you would qualify for. They have great resources that can assist any business owner and allow them to reap success in their endeavour.