Guide

Avoid common mistakes when starting a business

Introduction

Launching a small business can be risky and success is not always guaranteed. Businesses are most vulnerable to failure during the early years of trading, with 20 per cent of new businesses folding within their first year.

These figures should not scare you off, but should prepare you for some of the challenges entrepreneurs face when starting a business. With hard work and an awareness of the issues, a new business can be a great success.

This guide looks at the most common mistakes new business owners make and, more importantly, how you can avoid them. It also shows you how to improve the chances of your business idea succeeding.

Free business start-up support

Access free start-up business support from your local council. Contact them to get one-to-one advice from a business advisor and tailored guidance to develop your business plan.