– Trustway Accounting has published a new guide addressing the most frequent obstacles encountered by new businesses. The resource is designed to help entrepreneurs avoid common mistakes and establish stronger foundations for long-term growth.
The full guide can be found at https://trustwayaccounting.com/post/common-startup-challenges-how-overcome-them
The team’s newest publication identifies seven areas that often determine whether a startup succeeds or fails, including business planning, access to funding, tax compliance, and cash flow management. Each section outlines actionable steps that founders can implement immediately to reduce financial and operational risks.
Industry data from the American Economic Association underscores the urgency of these issues. Studies show that around 90% of startups fail, with 20% closing in the first year and 50% shutting down within the first five years. First-time founders face particularly steep odds, with only an 18% success rate. These figures highlight the need for early intervention and effective planning.
In response, the Trustway Accounting guide emphasizes the recurring nature of certain problems across new ventures. It covers strategies for sustainable growth, the importance of choosing the right business structure, and the development of marketing plans suited to competitive markets. The resource also stresses the role of professional support systems in maintaining compliance and financial accuracy.
“Most startups don’t fail because the idea was bad; they struggle because the foundation wasn’t built right,” a Trustway representative stated. “This guide equips entrepreneurs with practical knowledge to establish a stable footing from day one, covering essential areas such as planning, compliance, and financial management.”
By offering clear, step-by-step guidance, the resource aims to help business owners make informed decisions on structure, funding, and operations. It also highlights how professional accounting support can relieve entrepreneurs of administrative burdens, enabling them to focus on scaling their business.
About Trustway Accounting
Trustway Accounting, located at 1236 Blue Ridge Blvd in Hoover, Alabama, provides financial services for small businesses. Its offerings include QuickBooks implementation, payroll solutions, cash flow management, tax preparation, business start-up consulting, and more.
To read the complete “Common Startup Challenges and How to Overcome Them” guide, visit https://trustwayaccounting.com/post/common-startup-challenges-how-overcome-them
Contact Info:
Name: Lisa Cooley
Email: sales@trustwayaccounting.com
Organization: Trustway Accounting
Address: 1236 Blue Ridge Blvd, Hoover, Alabama 35226, United States
Website: https://trustwayaccounting.com