Avoid Business Challenges
Experts have compiled numerous statistics regarding our nation’s businesses. Every year one million people in the United States start a business. At the end of the first year, 60 out of 100 of those businesses will still be in business. By the end of the fifth year, only 20 out of 100 of the businesses will still be in business. After ten years, only 4 out of 100 businesses still exist.
The four most common reasons for business failure are:
- Lack of management experience in growing a business
- Lack of capital and proper cash management
- Lack of financial projections
- Lack of management information systems and reporting processes for decision making
Quantum’s expertise in finance, legal management, operations, marketing and management information systems assists businesses in overcoming these and other business challenges.