11 Finance Mistakes Small Business Owners Should Avoid when starting a Business after a Pandemic like COVID

Pandemics have a direct impact on biological, psychological and economic dimensions. Its intensity varies depending on the mortality and morbidity rate of the pathogen at hand, as well as the time it takes for it to spread.  If you’re a small business owner, doing your personal and corporate books can be doubly taxing. The American dream of starting your own business remains alive and well — the trick is to avoid becoming a statistic. According to the Small Business Administration, approximately one-third of small businesses don’t make it past the first two years, and 50 percent of small businesses fail within five years. It comes as no surprise that one of the biggest challenges for these small business owners is money management. What are the biggest money mistakes small business owners make and how can you avoid these potential pitfalls to keep your doors open for years to come? Here are the 11 most critical missteps to avoid: Paying themselves more than they need Not Pay
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