Business owners, by nature, are risk-takers. Entrepreneurs are faced with adversity the minute they decide to launch a new business. According to the Small Business Association (SBA), 30% of new businesses fail within two years of being open, 50% during the first five years and 66% within the first ten years.
What Can You Do to Improve the Odds and Protect Yourself?
As a business owner, preparation is key. Part of that preparation is understanding the risks that come with ownership. Stay informed and take the proper steps to mitigate risk in these areas:
- Corporate Structure
- Employee Benefits
- Owner Benefits
- Exit Strategy
Follow the steps in our helpful resource to reduce risk by structuring and protecting your business properly.