According to billionaire entrepreneur Richard Branson, 2017 is an ideal time to start a business.
"New technology, and a generation of customers who are ready to embrace it, have removed a lot of the barriers to entry for start-ups, making 2017 an incredibly exciting time to do business," the Virgin Group founder writes on his blog.
But, he notes, if you want any chance at succeeding in the start-up world, you have to stay on top of your finances: "Poor cash flow is the biggest killer of start-ups. A recent study showed that as many as 82 percent of start-ups fail due to poor cash flow management."
In fact, Virgin was nearly a part of that 82%. "In the early days of Virgin we came very close to the bank closing us down due to cash flow issues," Branson writes. "It ultimately became the reason why we had to sell Virgin Records — to free up cash to make Virgin Atlantic a success."