Bromwich & Smith Addresses the Top Five Mistakes of Canadian Small Businesses

By: Bromwich & Smith, Trustee in Bankruptcy  19-07-2012
Keywords: Bankruptcy Trustee

Medicine Hat, Alberta - “Canadian small business owners can avoid business failure and being an industry statistic by learning from others’ mistakes,” according to Sandy Lyons, a Trustee in Bankruptcy at the Medicine Hat Office of Bromwich & Smith, Inc. At the 2011 Medicine Hat Leadership and Business Summit this week, Lyons presented the top five mistakes that lead to Canadian small business failure. “Industry statistics report that within five years of opening their doors more than 30 percent of Canadian small businesses fail.  Being aware of common mistakes can mean the difference between having a thriving business and being a business failure statistic,” stated Lyons. 1. Keep Your Business Credit Separate from Your Personal Credit 2. Hire Only when Absolutely Necessary 3. Extending Credit – Should You Be a Bank? 4. To Market, To Market 5. Profit is Queen, Cash is King “Canadian small businesses face a host of issues as they try to build their future.  Success is based on how well they prepare and handle the problems facing every business, and Canadian business can start on the road to success by learning from the mistakes of those businesses that have come before them,” concluded Lyons. View the full release here:

Keywords: Bankruptcy Trustee

Contact Bromwich & Smith, Trustee in Bankruptcy


Print this page