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Mar 20, 2017 at 04:43 PM

4 Finance Traps to Avoid as a Startup

By Alexandra Trujillo

By Blair Nicole Nastasi

4 Finance Traps to Avoid as a Startup

Startups have difference finance rules than big business. Don't get yourself stuck in any of these common financial traps.

Startups are vastly different from established businesses and mid- to large-size companies. The biggest asset for new entrepreneurs is learning from others in the industry, and one of the biggest mistakes you can make is not doing your research when it comes to startup financing.

Avoid these four common startup finance traps that could cost you your new business.

1. Under or overestimating the amount of cash needed to run the business.

Writing a solid business plan can help you create a viable financial plan for your startup. Where most people go wrong is overestimating or underestimating the amount of cash actually needed to keep their business going.

Overestimating the amount of cash you need to get started can turn off potential investors and lenders. Whereas, underestimating the amount of cash needed to support your startup can lead to imminent doom. If you are unsure of how to create a business or financial plan, free business mentors at places like SCORE can help you get started.

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Posted in Small Business Financing.







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