{"id":46933,"date":"2024-12-19T08:30:27","date_gmt":"2024-12-19T08:30:27","guid":{"rendered":"https:\/\/www.worldfirst.com\/uk\/?p=46933"},"modified":"2024-12-19T08:35:10","modified_gmt":"2024-12-19T08:35:10","slug":"business-risks-for-start-ups","status":"publish","type":"post","link":"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/business-risks-for-start-ups\/","title":{"rendered":"10 risks of starting a business"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"46933\" class=\"elementor elementor-46933\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-275b99ee e-flex e-con-boxed e-con e-parent\" data-id=\"275b99ee\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1e2af9e9 elementor-widget elementor-widget-text-editor\" data-id=\"1e2af9e9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><a href=\"https:\/\/www.worldfirst.com\/uk\/\">Home<\/a>\u00a0 &gt;\u00a0\u00a0 <a href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/\">Blogs<\/a>\u00a0 &gt;\u00a0 <a href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/\">Online risk management<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a7853d elementor-widget elementor-widget-heading\" data-id=\"8a7853d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Ten risks of starting a business<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1affa0ce e-flex e-con-boxed e-con e-parent\" data-id=\"1affa0ce\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c5c72cf elementor-widget elementor-widget-text-editor\" data-id=\"c5c72cf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\">Regardless of the industry, many new businesses face common difficulties. Discover our top 10 and learn what to look out for as you get started.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2044d0cc e-flex e-con-boxed e-con e-parent\" data-id=\"2044d0cc\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4bb9bfa9 elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4bb9bfa9\" data-element_type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"473\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/12\/224286989.jpg\" class=\"attachment-large size-large wp-image-46934\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/12\/224286989.jpg 900w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/12\/224286989-300x177.jpg 300w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/12\/224286989-768x454.jpg 768w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/12\/224286989-360x213.jpg 360w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-368686b1 e-flex e-con-boxed e-con e-parent\" data-id=\"368686b1\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b8161b7 elementor-widget elementor-widget-text-editor\" data-id=\"6b8161b7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Business pundits and advice blogs have differing views on why businesses fail, each publishing their own lists of top three to five small business risks to watch out for.<\/p><p>Unfortunately, businesses face more risks than these articles specify and end up denying new entrepreneurs a broader view of the risks of starting a new small business. That\u2019s why we\u2019ve compiled ten common risks of starting a business below, so that you can build a more comprehensive view of the pressures facing your small business and future growth.<\/p><ol><li>Managing cash flow<\/li><li>Finding your niche and marketing your value<\/li><li>Ineffective sales funnel<\/li><li>Competition<\/li><li>Lack of scalability<\/li><li>Overcoming red tape<\/li><li>Operational challenges<\/li><li>Entrepreneurial burnout<\/li><li>Opting for quick sales tactics rather than long term development<\/li><li>Expansion into new market<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69c048d8 elementor-widget elementor-widget-heading\" data-id=\"69c048d8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1. Managing cash flow<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48da6e14 elementor-widget elementor-widget-text-editor\" data-id=\"48da6e14\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Cash flow management is an especially acute risk when starting a new small business. Recent data shows that poor cash flow renders as much as\u00a0<a href=\"https:\/\/preferredcfo.com\/cash-flow-reason-small-businesses-fail\/\" target=\"_blank\" rel=\"noopener\">82%<\/a>\u00a0of new small businesses unsustainable within their first five years.<\/p><p>Failure to properly manage cash flow is caused by two main factors: failing to raise cash when businesses need it (either from debt\/equity financing or improving sales revenues) or failing to cut excess expenditure.<\/p><p>Solid cash flow management is critical because small business owners need the flexibility of directing capital at short notice, mostly to meet the unexpected investment needs of their business. Without cash to underpin advertising campaigns or inventory turnover, businesses quickly struggle to function. Consider whether modern accounting solutions can help illuminate cash flow issues in your business and speak to your accountant about investment strategies.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-22c8a5f elementor-widget elementor-widget-heading\" data-id=\"22c8a5f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2. Finding your niche and marketing your value<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5bb94f3e elementor-widget elementor-widget-text-editor\" data-id=\"5bb94f3e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A second risk of starting a new small business is in meeting the demands of the market &#8211; specifically finding their niche and demonstrating their value. Failing to find a successful niche was ranked the second most common reason for startup failure in a\u00a0<a href=\"https:\/\/www.cbinsights.com\/research\/startup-failure-reasons-top\/\" target=\"_blank\" rel=\"noopener\">recent analysis by CB insights<\/a>.<\/p><p>When conducting market research, there\u2019s often an element of subjectivity over the results. Businesses need to make sure they\u2019re paying attention to customers\u2019 genuine needs and wants so they can position themselves to meet them and quickly demonstrate evidence of this value to customers.<\/p><p>Both steps are critical to avoid this particular risk. Failing to find a niche (by ignoring or misunderstanding customers\u2019 feedback) can result in poorly optimised products while lack of customer interest can result in low sales revenues and cash flow problems.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f1377e elementor-widget elementor-widget-heading\" data-id=\"6f1377e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3. Ineffective sales funnel<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f44b98d elementor-widget elementor-widget-text-editor\" data-id=\"f44b98d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Even once you\u2019ve captured your customers\u2019 attention and they\u2019ve understood your value, you need to ensure you\u2019re constantly generating sales. Otherwise, new small businesses risk becoming complacent. If you find that your conversation rate is low, you\u2019re not alone: the average cart abandonment rate according to\u00a0<a href=\"https:\/\/www.salecycle.com\/blog\/strategies\/what-is-cart-abandonment\/\" target=\"_blank\" rel=\"noopener\">SaleCycle data is over 80%<\/a>.<\/p><p>Unfortunately, e-commerce businesses don\u2019t have the benefit of well-trained sales staff that can tailor sales strategies to each new customer. Instead, e-commerce businesses have to rely on content marketing strategies and website design to entice customers into purchasing.<\/p><p>Seemingly small factors like the number of steps in a transaction or the way delivery information is conveyed to customers can\u00a0<a href=\"https:\/\/www.salecycle.com\/blog\/featured\/10-fascinating-stats-cart-abandonment\/\" target=\"_blank\" rel=\"noopener\">drastically increase<\/a>\u00a0cart abandonment rates. If you\u2019re noticing lots of website traffic or product views but low sales, try simplifying your process or clarifying upcoming steps customers can expect.<\/p><p>If you\u2019re an e-commerce business using an established platform like Amazon or eBay, you obviously have less direct control over transaction funnels. However, you can still tweak your product descriptions to be more compelling for customers and optimise your store for the platform you\u2019re on.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98295a0 elementor-widget elementor-widget-heading\" data-id=\"98295a0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">4. Competition<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-82c9fc8 elementor-widget elementor-widget-text-editor\" data-id=\"82c9fc8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Another risk to small businesses is fierce competition, especially if your business is up against larger organisations with more resources. The latest ONS figures show that e-commerce is an\u00a0<a href=\"https:\/\/www.ons.gov.uk\/businessindustryandtrade\/business\/activitysizeandlocation\/bulletins\/businessdemography\/2019#business-birth-and-death-rates-2014-to-2019\" target=\"_blank\" rel=\"noopener\">exceedingly popular industry to enter<\/a>, coinciding with the\u00a0<a href=\"https:\/\/www.ons.gov.uk\/businessindustryandtrade\/retailindustry\/timeseries\/j4mc\/drsi\" target=\"_blank\" rel=\"noopener\">recent uptick<\/a>\u00a0in online sales.<\/p><p>When finding and demonstrating your business\u2019s niche, it\u2019s not enough to only consider how customers can understand your value. Small businesses also need to convey why they\u2019re more valuable than their competition, too. This nuance should feature in your marketing strategy so customers can better understand their options and identify you as the best.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-675fa7dc e-flex e-con-boxed e-con e-parent\" data-id=\"675fa7dc\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5d32635f elementor-widget elementor-widget-template\" data-id=\"5d32635f\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"45097\" class=\"elementor elementor-45097\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c252ce e-con-full e-flex e-con e-parent\" data-id=\"c252ce\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-3d0dfaa8 e-flex e-con-boxed e-con e-child\" data-id=\"3d0dfaa8\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c260cf4 elementor-widget elementor-widget-heading\" data-id=\"c260cf4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Open a World Account for free<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4cfe13b9 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"4cfe13b9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Open 20+ local currency accounts and get paid like a local<\/li><li>Pay suppliers, partners and staff worldwide in 100+ currencies<\/li><li>Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify<\/li><li>Save with competitive exchange rates on currency conversions and transfers<\/li><li>Lock in exchange rates for up to 24 months for cash flow certainty<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4bf1e215 elementor-widget elementor-widget-button\" data-id=\"4bf1e215\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/portal.worldfirst.com\/register?region=GB&#038;lang=en-GB\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get started<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-642248a e-flex e-con-boxed e-con e-parent\" data-id=\"642248a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-77df06ab elementor-widget elementor-widget-spacer\" data-id=\"77df06ab\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container{height:100%;width:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty,.e-con>.elementor-widget-spacer.elementor-widget-empty{position:relative;min-height:22px;min-width:22px}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon,.e-con>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon{position:absolute;top:0;bottom:0;left:0;right:0;margin:auto;padding:0;width:22px;height:22px}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-57e63514 elementor-widget elementor-widget-heading\" data-id=\"57e63514\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">5. Lack of scalability<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-153d973f elementor-widget elementor-widget-text-editor\" data-id=\"153d973f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>E-commerce businesses rely on a high volume of sales to remain viable, so scalability is key. Unfortunately, certain product categories or services have limits. E-commerce businesses with a bespoke or local focus are particularly at risk, as well as software providers with a small user-base or \u2018freemium\u2019 business model.<\/p><p>If you\u2019re keen to increase your revenue but are finding that your market size is capped, consider where you can diversify products and services and maintain new revenue channels. Diversifying your business can help you avoid over-investing in a single product and maintain your existing customer base while you expand to find new ones.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1174693 elementor-widget elementor-widget-heading\" data-id=\"1174693\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">6. Overcoming red tape<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45165c3c elementor-widget elementor-widget-text-editor\" data-id=\"45165c3c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Unlike competition from market forces or poor management choices, governments and regulatory bodies place hard requirements on businesses\u2019 profits and policies. Violating regulations (even accidentally) can cause immense trouble for new small businesses.<\/p><p>Therefore, new entrepreneurs must familiarise themselves with the legislation that governs their business, including customs processes, tax rates and deadlines, consumer protection legislation, and safety requirements. Begin by speaking with your lawyer and accountant to understand where your business might be vulnerable to legislative requirements and make sure you\u2019re compliant.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-454c9e7 elementor-widget elementor-widget-heading\" data-id=\"454c9e7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">7. Operational challenges<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2df599e elementor-widget elementor-widget-text-editor\" data-id=\"2df599e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Like cash flow management, operational challenges in business are an ongoing issue that small business owners need to contend with. Operational management concerns how you run your business: whether it\u2019s efficient and whether you\u2019re spending time in your organisation effectively. New small businesses risk being outcompeted by industry peers and losing time to tasks that, nowadays, should be automated.<\/p><p>Facing this modernity is concerning for small businesses owners, and understandably so. A 2015 survey showed that 41% of small business owners feared losing control over their business\u2019s processes, while around 27% were concerned about the cost of implementation. A further 26% were hesitant about the efficacy.<\/p><p>Fortunately, e-commerce businesses have a wide range of options that can increase their efficiency while being cost-effective and easy to implement. These systems include inventory management software that can automate orders and predict optimum stock levels, automated customer emails for abandoned carts and relationships with fulfilment centres to help alleviate logistical pressures.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e1c0445 elementor-widget elementor-widget-heading\" data-id=\"e1c0445\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">8. Entrepreneurial burnout<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10d8a4d elementor-widget elementor-widget-text-editor\" data-id=\"10d8a4d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Starting a business is stressful and draining. That\u2019s why new small business owners need to prioritise the sustainability of their efforts in growing their business or risk entrepreneurial burnout before their new small business becomes established.<\/p><p>Mental health issues resulting from high, sustained stress affects roughly 72% of business leaders (compared to around 48% of the general population). Fortunately, noticing the signs can help you alleviate the pressure.<\/p><p>You can\u2019t run a successful small business without a clear head. If you\u2019re noticing yourself as irritable, tired or forgetful, try to make time for yourself and get disciplined about the amount of rest you need.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6cbaee7 elementor-widget elementor-widget-heading\" data-id=\"6cbaee7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">9. Opting for quick sales tactics rather than long term development<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f93782 elementor-widget elementor-widget-text-editor\" data-id=\"8f93782\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Certain tactics within the e-commerce space, like dropshipping, are risky as they prioritise short-term gains rather than long-term sustainability.<\/p><p>New dropshipping businesses lack control over their product\u2019s development and quality and face scarce regional sales exclusivity, leaving them vulnerable to fierce competition. Similarly, the dropshipping business model struggles almost immediately after just a few missed marketing choices.<\/p><p>Despite this adversity, dropshipping is\u00a0<a href=\"https:\/\/www.statista.com\/statistics\/1255201\/shopify-dropshipping-volume-by-service\/\" target=\"_blank\" rel=\"noopener\">flourishing<\/a>\u00a0and can be\u00a0<a href=\"https:\/\/www.cnbc.com\/2021\/02\/06\/dropshippers-middlemen-sell-cheap-products-on-social-media.html\" target=\"_blank\" rel=\"noopener\">highly profitable<\/a>, so if you\u2019ve got a dynamic understanding of evolving consumer tastes, it could prove to be a lucrative endeavour.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14431c1 elementor-widget elementor-widget-heading\" data-id=\"14431c1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">10. Expansion into new markets<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f9fd837 elementor-widget elementor-widget-text-editor\" data-id=\"f9fd837\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>With global economic forecasts predicting\u00a0<a href=\"https:\/\/www.statista.com\/statistics\/268750\/global-gross-domestic-product-gdp\/\" target=\"_blank\" rel=\"noopener\">growth for the next five years<\/a>, small businesses should consider how they can expand into new markets to capitalise.\u00a0<\/p><p>While there are risks associated with the move for new small businesses, including new cultural customs to learn and legal frameworks to abide by, operational complexities have become more streamlined than ever.<\/p><p>WorldFirst offers small businesses the ability to save time and money when managing their international payments and currency transfers. With over 60 different currencies to choose from and same-day payment options available, WorldFirst makes accessing growing markets and building international supplier relationships easy, fast and reliable.<\/p><p>To find out more about\u00a0<a href=\"https:\/\/www.worldfirst.com\/uk\/products\/\" target=\"_blank\" rel=\"noopener\">WorldFirst products and services<\/a>, or to open an account, chat with us online or call 0207 801 1065 today.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-23252ffe elementor-widget elementor-widget-image\" data-id=\"23252ffe\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"160\" height=\"160\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/05\/20240327031331810.png\" class=\"attachment-large size-large wp-image-32122\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/05\/20240327031331810.png 160w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/05\/20240327031331810-150x150.png 150w\" sizes=\"(max-width: 160px) 100vw, 160px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-35b3890b elementor-widget elementor-widget-heading\" data-id=\"35b3890b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">WorldFirst<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2518cd66 e-flex e-con-boxed e-con e-parent\" data-id=\"2518cd66\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-5212c83b e-flex e-con-boxed e-con e-child\" data-id=\"5212c83b\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7bb30dbd Last3Articles elementor-widget elementor-widget-shortcode\" data-id=\"7bb30dbd\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"blogs_container\">\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/how-to-manage-foreign-exchange-risks\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/12\/currency-exchange.jpg\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/how-to-manage-foreign-exchange-risks\/\">Foreign exchange risk management: How to make international business more affordable<\/a>\n                <\/h1>\n                <p>Foreign exchange risk management is vital to e-commerce brands. This article offers tips to help with foreign exchange risk.<\/p>\n                <span>May \/ 2025<\/span>\n            <\/div>\n        <\/div>\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/financial-crime-support\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/12\/closeup-view-metal-handcuffs-dollars_181624-17914-1.jpg\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/financial-crime-support\/\">We\u2019re taking the fight to financial crime<\/a>\n                <\/h1>\n                <p>Find out how our team tackles financial crime and what businesses can do if they think they\u2019ve fallen victims.<\/p>\n                <span>Dec \/ 2024<\/span>\n            <\/div>\n        <\/div>\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/pros-cons-receiving-foreign-payments-local-currency\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/12\/230033283.jpg\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/pros-cons-receiving-foreign-payments-local-currency\/\">Receiving foreign currency payments in local currency<\/a>\n                <\/h1>\n                <p>Learn about the pros and cons of local currency payments.<\/p>\n                <span>Dec \/ 2024<\/span>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-56b7b083 e-grid e-con-boxed e-con e-child\" data-id=\"56b7b083\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2e9f084c e-flex e-con-boxed e-con e-parent\" data-id=\"2e9f084c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4d231951 elementor-widget elementor-widget-template\" data-id=\"4d231951\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"45101\" class=\"elementor elementor-45101\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6d900fac e-flex e-con-boxed e-con e-parent\" data-id=\"6d900fac\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-36c1eca9 e-flex e-con-boxed e-con e-child\" data-id=\"36c1eca9\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c238113 elementor-widget elementor-widget-heading\" data-id=\"4c238113\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">You might also like<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7f9ec2 elementor-widget elementor-widget-text-editor\" data-id=\"b7f9ec2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>WorldFirst articles cover strategies to mitigate risk, the latest FX insights, steps towards global expansion and key industry trends. Choose a category, product or service below to find out more.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6457b31 e-grid e-con-boxed e-con e-child\" data-id=\"6457b31\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-27fa6f1 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"27fa6f1\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/uk\/for-online-sellers\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Accounts for online sellers<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6712d69 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"6712d69\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/uk\/for-importers\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Accounts for importers<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0d3516 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"e0d3516\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/exploring-new-markets\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Exploring new markets<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a5c09e4 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"a5c09e4\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/business-with-china\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Doing business with China<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cea8463 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"cea8463\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/global-insights\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Global insights<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6cacb43 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"6cacb43\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/international-transactions\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">International transactions<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-77e016d elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"77e016d\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/uk\/marketplaces\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Marketplace partnerships<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10d4375 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"10d4375\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/e-commerce-guides\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">E-commerce guides<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2cdf449 e-flex e-con-boxed e-con e-parent\" data-id=\"2cdf449\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-58f896e1 elementor-widget elementor-widget-template\" data-id=\"58f896e1\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"45104\" class=\"elementor elementor-45104\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2cfb4cdd e-flex e-con-boxed e-con e-parent\" data-id=\"2cfb4cdd\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4194f9d elementor-widget elementor-widget-heading\" data-id=\"4194f9d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Businesses trust WorldFirst<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5db8d328 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"5db8d328\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Almost 1,000,000 businesses have sent USD$300B around the world with WorldFirst and its partner brands since 2004<\/li><li>Your money is safeguarded with leading financial institutions<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-658bb0a0 elementor-widget elementor-widget-image\" data-id=\"658bb0a0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"271\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/05\/20240326104849999-1024x347.png\" class=\"attachment-large size-large wp-image-32123\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/15\/2024\/05\/20240326104849999-1024x347.png 1024w, 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Discover our top 10 and learn what to look out for as you get started. Business pundits and advice blogs have differing views on why businesses fail, each publishing their own lists [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":46934,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[30],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>10 risks of starting a business | WorldFirst UK<\/title>\n<meta name=\"description\" content=\"Find out our top 10 and learn what to look out for as you get started.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.worldfirst.com\/uk\/blogs\/online-risk-management\/business-risks-for-start-ups\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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