Top Financial Risks Facing Small Businesses and How to Manage Them
July 18, 2024 | Last Updated on: October 17, 2024
July 18, 2024 | Last Updated on: October 17, 2024
Disclaimer: Information in the Business Financing Blog is provided for general information only, does not constitute financial advice, and does not necessarily describe Biz2Credit commercial financing products. In fact, information in the Business Financing Blog often covers financial products that Biz2Credit does not currently offer.
Only 50% of small businesses survive five years of business, according to the U.S. Census Bureau. While it may be an intimidating number to face, understanding the risks small businesses face is the first step to crafting a financial strategy that effectively anticipates and manages these threats to your business.
The best defense from financial risk are proactive measures to prevent or reduce their impact. So, keep reading to explore the most common financial risks small businesses encounter and learn practical strategies to manage and mitigate these risks effectively.
3 Key Takeaways
In this article: