5 common mistakes entrepreneurs make in their first year

Entrepreneurs mistakes

No doubt, starting your own business can be challenging. Opening your doors requires financial support, timing, and a big leap of faith. Luckily, more small businesses are surviving their first year. According to the Bureau of Labor Statistics (BLS), over 30% of all new businesses started between 1995 and 2010 closed before their second year. More recent BLS data found 80% of businesses opened between 2016 and 2017 survived their first year.

This bodes well for entrepreneurs who are eager to open their own businesses,