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.