Small businesses reveal their toughest challenge
Feb 21 2007
Opinion was divided among small business owners this fortnight. Of the 340 respondents to our poll, in which we asked you to reveal your toughest challenge, 39 per cent of you said that starting up in the first place posed the most problems. Once you’ve started, actually surviving the first year proves difficult, with 23 per cent answering in this way. After that, achieving stability and growth is a challenge for small business owners (21 and 17 per cent respectively).
Of course, difficulty in managing cash flow can be one of the most taxing issues during the first year and leads to many companies failing. Click here to read a guide to good cash flow management.
On another tack, we received some interesting responses from our living and working abroad Cadogan guide giveaway competition - many thanks for those. Here’s one answer that caught my eye:
‘I would like to live and work in Australia because it is a land of opportunity, where common sense is still fashionable and allowed.’