The nightmare of every company selling into small business is what happens when your customer goes out of business and still owes you money? With a new Bureau of Labor Statistics poll showing that only 44% of new companies make it to their 4th anniversary, it's a more common challenge than you might think.
According to Forbes, the 10 Riskiest Business to Start (and therefore to sell to as well) are:
Trucking
According to Forbes, the 10 Riskiest Business to Start (and therefore to sell to as well) are:
Trucking
- Slave to oil prices
- Large competitors only earning single digit profits
- Facing increased government regulations
- Finding trustworthy drives a problem
- Many cheques from customers bounce
- Finding a bank to supply the cash is difficult
- Facing increased government regulation
- Large banks like Citigroup and Bank of America are avoiding the industry
- Razor-thin margins
- Insurance companies pay the bills and don't like paying much
- National competitors spread costs through high volume
- Shortage of skilled mechanics
- Commodity businesses who compete on price
- Low margins and often high startup costs
- Measurable growth hard to achieve
- Very competitive industry
- Margins between 1 and 4%
- Dominated by very large players
Labels: 10 riskiest businesses to start, Auto Repair, Bureau of Labour Statistics, Food Stores, Forbes, Money Services, Personal Services, selling to small business, Trucking
