The real reason so many small businesses fail

Starting your own small business can be an exhilarating and rewarding adventure, but many entrepreneurs find the road to success is a rocky one.

Many people dream of being their own boss, but very few actually are able to do this on a scale that warrants a real income either for themselves or their staff. Yet now more than ever, we are seeing a focus on start-ups in Australia, with funding from investors, incubators and even banks backing small business ideas. Starting your own business can be an exciting, scary but rewarding process, but a fantastic idea without the right strategies or underprepared data can leave a potential business owner with broken dreams and a large amount of debt.

People always blame the climate, technological advancements and a crowded market, but there is always room for profitable new concepts, businesses and services if executed well.

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