Are you considering setting up a new business after completing a professional postgraduate programme? Congratulations on taking this exciting step towards entrepreneurship! To help you navigate this journey successfully, we have gathered expert advice and essential data to guide you through the process.
Key Points | Statistics |
---|---|
Success Rate of New Businesses | Only 50% of new businesses survive past the five-year mark. |
Importance of Market Research | 42% of businesses fail due to lack of market need for their product or service. |
Financial Planning | 82% of businesses fail due to cash flow problems. |
These statistics highlight the importance of thorough planning and preparation before launching your new business. Now, let's delve into expert advice to help you navigate this process effectively.
By following these expert tips and leveraging the data and statistics provided, you can increase your chances of success as you prepare to set up a new business after completing a professional postgraduate programme.
Note: The statistics mentioned above are based on industry research and studies.