A recent survey of 1,000 small business owners highlighted critical challenges they faced when launching their businesses. Financial missteps, particularly underestimating costs and cash flow management, affected 36% of respondents. Additionally, 29% wished for better support and marketing efforts, while over 25% struggled with work-life balance. Despite these hurdles, a supportive network contributed significantly to their successes, with 80% attributing their achievements to partnerships. On average, it took over two years for them to feel confident, often working over 50 hours weekly to establish themselves.
A survey reveals that over 36% of small business owners underestimated costs, leading to significant financial missteps in their early days.
Eight in ten business owners credit their success to their network of partners and vendors, highlighting the importance of community support.
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