SPONSORED: Running a small business is hard. There are all sorts of reasons business fold, and in a volatile environment like this, many business owners can make these crucial mistakes. | Cash Flow Capital
Running a small business is hard. That’s why globally, a reported 20% fail in the first year, 30% in the second, and half after five years in operation. There are all sorts of reasons business fold, including poor marketing, inept management, failure to construct a good business plan, and financing problems.
In a volatile environment like this, it’s difficult to know what to do, or how to plan for the future, which can lead business owners to make these crucial mistakes.As consumers started spending after the initial lockdown period, business found themselves facing inventory issues.
It’s a hard way to learn a lesson, but businesses that have weathered the storm should consider trade finance options to purchase the stock they need to meet future demand.. Their innovative trade finance solution helps businesses keep their inventories stocked and fund the operational cycle without cutting into the cash flow needed to grow the businesses and respond to other unexpected events.