Unfortunately, statistics show that over 55% of businesses fail after only five years, and over 70% fail after 10 years (Startup Business Failure Rate By Industry | Statistic Brain). While business owners may have good intentions, the major reason for business failure is a lack of knowledge or experience. Essential elements of starting a successful business include establishing a business plan executive summary, market analysis, company description, organization and management, marketing and sales, service or product line, funding request, financial projections, and option appendix. You can be on of the few that make it!
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