So you’re setting up your own business…
Starting your own business is an exciting time. You’ve got a brilliant idea, great skills and heaps of passion and energy. You can’t wait to turn it all into a business, stop working for someone else’s benefit and start running the show yourself. Unfortunately, it is not always an easy road ahead. The statistics are stark; according to the Australian Bureau of Statistics:
- An average of 44 small businesses close their doors every day;
- Of the 300,000 business that started in 2010-11, 1 in 4 closed in their first year; and
- Only half were still operating three years later.