Owning and running a small business is a dream of almost everyone. However, this is a big challenge, especially considering the problems you will likely face. While having the idea is the easiest part, starting and managing a business is not a simple task, as some might want to believe. The first two years of a business are the biggest problem, and most small businesses do not make it past this period. Those brave enough will successfully manage every aspect of the business starting from employees, marketing and administration, and ensure that they do not miss any leads. Here are some challenges that your small business might face.

As the year comes close to an end, people across the world are thinking of the right ways to begin the coming year on the right footing. One way you can start on a high is by starting a business venture and working hard for its success. Although there are many business ideas, only a handful last for a year, let alone make a profit. Due to this challenge, most wannabe entrepreneurs find themselves losing hope of ever being business owners in their lives again. As you embark on a new year, here are 7 great ideas for a business venture that can interest you:

As a small business owner, you are definitely thinking of ways to improve and make it bigger and better. This will remain a dream until you find practical ways to realize them. Research indicates that most small and medium-sized businesses (80%) make it through the first year, while half survive their five-year anniversaries. As such, if you want to be among those who manage to beat the five-year mark, you must invest time and effort into your small business to see it grow into a bigger organization. Here are some strategies and approaches that can make your small business better.