NEW BUSINESSES FAILURE
Given that many new businesses fail in the first few years after they are established, how should an entrepreneur think about the risk of failure associated with a new business? What can an entrepreneur do financially to increase the chance of success?
What is included in a good financial plan for a new business? Explain how a business plan can help an entrepreneur succeed in building a business. Give examples. (Do not discuss business plans, SWOT analyses or other non-financial aspects. This question is solely on financial plans.)