Starting and running a business can be tough because of the financial strain, hours and various associated stresses. However, it can also be very rewarding. One of the biggest challenges entrepreneurs face is getting used to the unpredictable nature of business cash flow and generating enough business income to replace income that was previously received or that is necessary to maintain the lifestyle of the entrepreneur. Some entrepreneurs take the approach of taking as much money out of the business as possible, but that is typically not the best approach.
Without enough working money left in the business (working capital) there can be several challenges. They include:
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The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.