Upbeat News for Small Businesses

These are heady days to be an aspiring entrepreneur in the U.S. Even the risk-averse with an idea might want to consider jumping into the small startup business arena today. Despite the historical odds against small business longevity, things have definitely been looking up in recent years! From 2005 through 2015, roughly half of startup…

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Can Business Failure Damage Your Personal Finances?

This is a question often asked by entrepreneurs, and the short answer is maybe. The longer answer is that it depends on your circumstances and the type of finance you take out. If you’re a sole trader or member of a non-limited liability partnership, of course, then it’s an unequivocal yes—you are personally responsible for…

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Do You Believe the Legendary Startup Failure Statistics? I Don’t!

This recent piece on startup failure statistics caught my eye on Twitter first, and I followed the links to discover Startups: Conventional Wisdom Says 90% Fail. Data Says Otherwise. | Fortune.com. Here’s a direct quote from author Erin Griffith: “I recently found myself carelessly repeating a statistic that I’d heard dozens of times in private conversations and…

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Top 5 Reasons Small Businesses Fail in the First 5 Years

Sadly, 55 percent of new businesses fail within the first five years. At times this can be due to unexpected causes such as radical technology, market shifts, or changing regulations. But even in these cases, failure could have been prevented by careful planning. Here are five common reasons that businesses fail. 1. Lack of Knowledge…

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Forget Finances: Fear of Failure is the Biggest Barrier for Creatives

The creative industry has quickly become a fundamental sector for many advanced economies, especially the UK. Last year, gov.uk reported that, in total, creative business were providing around £9.6m (~ US$ 11.7m) every hour to the economy, making the industry one of the UK’s greatest economic achievements in recent years. As such, ambitious creatives looking…

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The Formula for Business Success is Simple

Yeah, sure. That’s what you probably thought when you read this blog post title. Nothing in business is simple, right? Experts will offer advice that relates to what they’re selling. They promise the moon if you do what they say. But, the formula is rather simple. But, before I give it away, here’s an example…

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7 Shortcuts That Can Kill a Startup Business

Starting a new business is not an informal process, and should never be treated like a hobby between friends. Unfortunately, as a startup advisor and angel investor, I’ve seen too many ventures with great potential get destroyed or set back by legal and other shortcuts that should never have been allowed to happen. The path…

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