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Clear signs your business is in distress

Small business owners should plan for failure as much as success, experts say.

"People don’t do it because they are paranoid. They think if they plan for failure it will be a self-fulfilling prophecy," says Robert Warren, director of the Asper Centre for Entrepreneurship at the University of Manitoba. "But you should plan for everything that could go wrong."

With more than 70% of small businesses ceasing to exist within the first five years of operations, entrepreneurs can do a number of things at the outset to minimize financial loss down the road.

Selena Hinds, Financial Post

Full Story: http://www.financialpost.com/small_business/businesssolutions/story.html?id=280426

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