raaman
Valued Contributor
1. Choosing the wrong business model: New businesses do not always take into account, or make the right decisions, regarding the type of business. The selection can have a deep effect on a business owner's individual liability for debts and poor performance in the business. Therefore, different types of businesses such as limited liability companies and joint stock companies must be carefully considered.
2. Failures to collect owed money: There is much to think about when starting a new business. Some business people don't follow on outstanding invoices. It is because they feel uncomfortable or are simply too busy with business tasks. But, unpaid invoices represent money that is lost in business. It cannot be used to pay expenses or be counted as profits.
2. Failures to collect owed money: There is much to think about when starting a new business. Some business people don't follow on outstanding invoices. It is because they feel uncomfortable or are simply too busy with business tasks. But, unpaid invoices represent money that is lost in business. It cannot be used to pay expenses or be counted as profits.
