Approximately 85% of startups survive their first year in business and of those, less than 70% survive their second year in business. By the 5th year, that survival rate is down around the 50% mark. But there are several things you can do to arm yourself for success.
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When starting a new business, it’s critical to get the foundation right so you’re not building on sand. We can help. Choosing the right structure for you now, and also one that will work for you as you grow in the future, is one of the most important decisions you’ll make in business. You should speak to your accountant too, and we can guide you through your options for asset protection. After all, you don’t want to be hit with a massive tax bill down the track to change structure, and you also don’t want your hard earned assets at risk if things don’t go to plan one day.