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Archive for the ‘Start-up’ Category

Business Start up Risks

As with all risks, there is the risk that your business might fail. There can be many different reasons for failure. There can be reasons based on your idea or personality. Perhaps you were not sufficiently experienced in the area of your business. Location. Perhaps there was not a customer need for your product or service. Maybe you were ahead of the curve – too early for customer acceptance. There can also be factors outside of your control, like market downturn, community rezoning, or street closures for repairs.
According to Statistics Canada, 96% of small businesses fail in the first year. Small businesses are those described as having between 1-99 employees. (Key Small Business Statistics – January 2009. Industry Canada).

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