Every small business has its ups and down. Truthfully, even large corporations go through successes and failures, whether it’s due to poor management or bad product launches. But, small businesses are more vulnerable because budget is tight, and the stakes are high.
Being a small business owner isn’t easy, there’s plenty to deal with from inventory to payroll, and most likely you’re the only one handling all of the major responsibilities. Knowing how to stretch a dollar is another crucial part of being a small business owner.
Every entrepreneur should adopt a set of habits that can help him or her not only make their business more profitable, but also easier to manage. Every day is an opportunity to build up that arsenal of tips to make your small business run smoother and more successfully.
Small business optimism is still on the rise which is great news for both employers and employees alike. Unfortunately, statistics show that only 50% of small businesses survive past the fifth year of operation.