It is a sad and unfortunate truth the large majority of new businesses fail within the first 3 years, some 56% in fact and of those who make it last the 3 year mark, a further 48% will collapse by year 5. This is a sobering thought for anyone who wants to get started in business and whilst it can appear scary, it is much better to simply view it as a benchmark for avoiding failure. The chief reason why most of these companies fail is the consequence of finances, in the main it is the fault of mismanagement of…