To successfully run and grow a business, you need to know how to run your business efficiently. Statistics show five out of 10 new businesses fail within the first five years. According to the U.S. Small Business Administration, the following are the top 10 reasons why businesses don’t succeed.
- Lack of experience
- Insufficient capital (or money)
- Poor location
- Poor inventory management
- Over-investment in fixed assets
- Poor credit arrangements
- Personal use of business funds
- Unexpected growth
- Low sales
Those are items that we are here to help with. Cruise & Associates is an accounting and consulting firm that works with small to mid-sized businesses.
Our goal is to make sure your business is working for you and not against you.
Here’s what we can do…
The information contained in this article is not intended to constitute legal, accounting, tax, investment, consulting or other professional advice or services. For specific information that applies to your circumstances, you should consult a qualified tax advisor. In accordance with IRS Circular 230 Disclosure and to ensure compliance with requirements imposed by the U.S. Internal Revenue Service, we inform you that any tax advice contained in this article was not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding tax-related penalties under the U.S. Internal Revenue Code or (2) promoting, marketing, or recommending to another party any tax-related matters addressed therein.