Research from the U.S. Bureau of Labor Statistics shows that approximately 20% of small businesses fail within the first year. This is primarily due to financial mistakes. As a small business owner, it is important to understand that your first year in business will make or break you. Below, we’ll explain 8 of the most common financial mistakes that entrepreneurs make within the first year of business. Top 6 Financial Mistakes Leasing Too Much There are two possible outcomes for this…
Every small business owner in the United States is required to pay taxes. The exact amount varies based on your business structure and the state you are in, but this is one of the largest business expenses you will have. On average, small businesses pay a 19.8% tax rate. In addition to being one of the largest expenses, it’s also one of the most important. If you don’t pay your taxes or you pay them late or inaccurately, the consequences could…
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