It's an unfortunately common occurrence for a business to fail in its first year. High startup costs and a difficulty in finding exposure are just two reasons why most businesses will not reach the three-year mark.
In fact, 33 per cent of all new enterprises will fail in the first six months, half will not stay open for two years and a massive 75 per cent will close within three years of opening, according to research by Dun & Bradstreet.
You may be thinking of starting a new enterprise, and this is not to put you off - it will just require extra care to make sure you are using all the tools at your disposal. Alternatively, if this sounds like your small business, there are things you can do to streamline your company's operations and save money in the process.
Here are three things to consider:
Are you collaborating with other businesses?
Small businesses are able to join together to compete on a grander scale, while sharing the costs of running a wider strategy. Collaboration is more common than ever, though in its truest, most successful form, it will need people to be in near-constant contact.
A teleconference service allows different offices across Australia to communicate at the drop of a hat.
Are you spending too much on travel?
Travelling to meet suppliers, investors or clients is often expensive and time consuming.
Instead of spending precious funds on flights and hotels, a low cost conference call can be used to connect you with vital members of your network with simplicity and reliability.
Are you pitching successfully to investors?
A web conference service is an ideal way to show investors your vision, instead of merely telling them.
Your business may be struggling to get off the ground, but if you are able to demonstrate why you should receive funding, you will surely find yourself in a better position to receive it.
Both teleconferencing and web conferencing solutions offer real benefits for a business of any size. Discover more by registering with Eureka Conferencing for free today.