Senate Republicans today rejected a bill that would aid small businesses with expanded loan programs and tax breaks. Republican leaders filibustered after fighting for days with Democrats over the number of amendments they would be able to offer.
This underscores how many people feel strongly about the badly needed assistance that small businesses need in todays economy. However, in all fairness, small businesses come and go and the reasons for failure are not what you would think. The most common reason is that funds run out before the business can pay for itself. One of the most common fatal mistakes for many failed businesses is having insufficient operating funds because owners underestimate how much money they will need and they are forced to close.They also may have an unrealistic expectation of incoming revenues from sales.
It is imperative to ascertain how much money your business will require; not only the costs of starting, but the costs of staying in business. Basically, you will need enough funds to cover all costs until sales can eventually pay for these costs.
One way to stay in business during this trial period, is via accounts receivable factoring.
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