Management strategies: surviving the early years
In this article, Natwest Content Live discusses ways to survive the first years of starting your own business.
‘Around half of all UK start-ups fail in the first five years, while 64% are hit with unexpected costs in the first year alone. We look at ways that businesses can survive the early years and carefully manage surprise costs.’
Amongst the suggestions is one idea from Cause4‘s CEO, Michelle Wright:
Invest in a good accountant
And while these costs may be unavoidable, they can be better managed by ensuring you invest in a good accountant, says Michelle Wright, founder and CEO of Cause4, which advises organisations on fundraising strategies.
“Invest in a good accountant quickly to advise you on how to grow the business and to manage your finances cost-effectively. We still work with the same accountant we had from day one, and his knowledge of how we have grown as a business has proved invaluable.”
You can read the full article here.