Two ‘avoidable mistakes’ for small business owners: Bluevine

Fintech company Bluevine has released its mid-year Small Business Owner Success Survey, revealing encouraging results. The survey found that 88% of owners felt they met or exceeded their business expectations in the first half of 2024, with 73% maintaining similar levels of optimism or confidence for the second half of the year.

Bluevine CEO Eyal Lifshitz joins Wealth! to discuss these findings and offer insights for small business owners.

Lifshitz observes that sentiment among small business owners is “generally” positive despite economic uncertainties. However, he highlights several “avoidable mistakes” that small business owners often make. These include using personal credit cards for business purposes, lacking sufficient cash reserves to navigate potential cash flow crunches, and failing to establish a line of credit that can fund company growth.

To help small business owners prepare for the future, Lifshitz offers two key pieces of advice: plan ahead for uncertainty — whether positive or negative — and ensure that your finances are in order to maintain stability.

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This post was written by Angel Smith