You have started a new business, one of the most rewarding activities of an entrepreneur. But with great rewards comes great risk, especially when it comes to having a sound financial plan as well as outlining the cost of everything. These have led many small and medium-sized businesses to make some common mistakes that can cripple their new startup.
From handling inventory to sourcing for raw material, form chasing debtors to billing creditors, the day-to-day running of your business can hinder you from recognizing these 9 business mistakes and looking for a way to solve them. Here are the 9 common mistakes that occur and what you can do about them.