Support the positions by the authors of our textbook

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Reference no: EM132169453

According to Small Business Administration research, only half of new businesses survive for the first five years and only one-third of new businesses are able to survive for 10 years. According to Kamo (2016), "Sometimes people start businesses with a dream of making money but don’t have the skill or interest to manage cash flow, taxes, expenses, and other financial issues. Poor accounting practice puts a business on a path straight to failure" (para. 14). For this week’s discussion, search the internet to find an article discussing the importance of fiscal planning in a small business. Include the type of software recommended (if mentioned), competencies leaders should have in the area of finances and any other recommendations. Does the article support the positions by the authors of our textbook? Support your recommendations with course concepts and other outside sources.

Reference no: EM132169453

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