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People start their own business for all sorts of reasons. Perhaps they’re looking for more freedom, or want to get off the job treadmill, or maybe they just feel ready to take on the challenge of running their own company.
In 2014, there were 587,000 new businesses set up*, more than in any other year on record, most of them small operations with their own challenges.
But whether you’re a plumber setting up a one-person business, a financial adviser setting up a practice with some colleagues, or an entrepreneur launching your own product, there are some things that apply to everyone when it comes to running a business.
Here are five things that need to be at the forefront of your mind. Continue reading