165. Why 50% of Small Business Fail in the First 5 Years

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Episode Synopsis: 

In this episode, Gina Knox discusses the three main reasons why small businesses fail before the five-year mark: lack of working capital, bad business investments, and big unexpected tax bills. She emphasizes the importance of financial acumen and offers practical advice on how to prevent these issues. Gina encourages business owners to manage their cashflow, spend money wisely on current business problems, and plan for taxes. She also addresses the misconception that earning more money can solve all financial problems and highlights the need for financial awareness and accountability.