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Why You should Evaluate Your Business Ideas

DON’T LET YOUR BUSINESS BE ONE OF THOSE THAT FAILS !

We live in a world where starting your own business is increasingly seen as an option, indeed for many in the current economic climate, a necessity.  For some people the entrepreneurial spirit is so ingrained they’d never be happy unless they were putting their business ideas into action.

For others, starting a business is a way to avoid a lengthy commute to work or not having to work for someone else.

Some people need to stay at home to be with their children or to care for an elderly or disabled family member, some people have reached an age where a conventional job is no longer an option.

I’ve worked with hundreds of people who’ve wanted to start a business and, sadly in many ways, I know only too well how many actuallyget from the idea to launch and how many actually succeed and survive in business. Indeed, statistics on the success rate for start-up business can make for alarming reading.

In the USA seven out of ten new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years, and a quarter stay in business 15 years or more.

In Canada business failure statistics show that about 96 % of small businesses that enter the marketplace survive for one full year, 85 % survive for three years and 70 % survive for five years.

HOW CAN YOU AVOID BEING ONE OF THESE STATISTICS ?

BY EVALUATING YOUR BUSINESS IDEAS !

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Evaluating Business Ideas

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