You've got killer ideas, fire in your belly and you're prepared to put in the hard yards – the first months of a new business venture are often highly exciting and productive. But a slip up now could cost you not only your capital but also your confidence, your reputation and your business.
Sadly, Australian business failure rates are at a six year high, with more than 250,000 businesses deregistered from the Australian Securities and Investments Commission last financial year, most of them (87%) small businesses.
Starting a small business can be very rewarding but it is also very challenging. So, here we're taking a look at five common mistakes that new businesses make and how you can avoid them.