 Having knowledgeable and trusted counselors and advisors to call upon when questions arise is a tremendous benefit and perhaps the greatest single advantage of being in an incubator environment. It is why nearly 70% of companies started in incubators are still in business and growing after five years.
Whether starting a new business or expanding an existing one, you will encounter daily challenges and obstacles. Many directly business related, such as pricing your products and services, negotiating a fair and reasonable contract, handling customer issues, writing proposals, or marketing and sales. Many others involving the never ending back office aspects of running a business, like generating invoices, paying bills, ordering supplies, attending to payroll and quarterly taxes, managing cash flow, and keeping the books. These demands and pressures can be overwhelming and are a primary reason that more than 50% of small business start-ups fail in the first three years.
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