COVID-19 has disrupted our businesses and our personal lives in unimaginable ways. As Vladimir Lenin once said: There are decades where nothing happens and there are weeks where decades happen. There is no doubt about which kind of week, month or year we have been experiencing.
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It’s no secret that the survival of small business can be challenging for entrepreneurs in the UK — only four in ten businesses survive past the five year mark of running the business. Businesses fail from making continuous mistakes which lead to the collapse of their business, so knowing the causes of business failure is key to eluding those factors and focusing on success. A plan to survive should therefore be accompanied by short and long term goals and objectives to keep you on track.
