4 major financial risks that can slow down your startup
Successfully navigating the marketplace and securing steady revenues is just one part of the story – small companies also have to avoid falling into one of the following traps to stay in the black
Financial management is an essential skill that small entrepreneurs must learn quickly when they start working on their own. Balancing incoming streams with short-term expenses and long-term investments is anything but easy, especially if this is not your primary field of expertise. It’s no surprise that numerous startups hit a sudden roadblock that takes them by surprise and submarines their curve of growth, even if most of such incidents can be avoided with careful planning.
Fortunately, it is possible to learn from other’s mistakes and make your business operations more resistant to financial shocks.
Here are some of the most common risks that small companies should steer clear of at all times: