Business statistics give you information you can use to make a decision, develop public policy, or compare your business with others around the country. I have been involved in some personal business for a while now and have been privileged to see from some companies point of view but I still haven’t gotten it to see why businesses fail. There’s a huge growing market for mobile phone accessories, and plenty of handmade sellers are raking in 6 and sometimes 7 figures from their phone case businesses.
Some small businesses are further financed through credit card debt—usually a poor choice, given that the interest rate on credit cards is often several times the rate that would be paid on a line of credit at a bank or a bank loan Recent research suggests that the use of credit scores in small business lending by community banks is surprisingly widespread.
In addition to ensuring that the business has enough capital, the small business owner must also be mindful of contribution margin ( sales minus variable costs ). To break even, the business must be able to reach a level of sales where the contribution margin equals fixed costs When they first start out, many small business owners under price their products to a point where even at their maximum capacity, it would be impossible to break even.
Many agencies like s Start-Up USA, Social Security Administration Ticket to Work Program and The Office of Disability Employment Policy provide technical assistance, funding and mentoring services to encourage and to support disabled entrepreneurs. Every year, SCORE volunteers help thousands of entrepreneurs start small businesses and achieve new levels of success in their existing businesses.
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