According to a Wall Street Journal article here, a recent survey of small business start-ups (those with less than 100 employees), cited higher than expected costs as the single biggest mistake made by entrepreneurs. Other problems, according to the article, included “hiring the wrong people, not knowing how to market and sell products, and not securing enough financing.” Many of these problems are attributed to lack of understanding regarding “taxes, financing and credit, and hiring and firing.”
While these problems are business decisions at their very core, they do require an understanding regarding basic legal issues in order for decisions to be made wisely.
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