Welcome to a new series of articles for Startups Magazine. In this series we will look at some of the more common challenges that are faced by early-stage businesses and some of the top tips designed to overcome these challenges or, at the very least, to mitigate their worst effects.

To be a successful entrepreneur means that you have to run a successful business. That in turn requires your business to sell products or services that customers want to buy and at a price that they are prepared to pay. In addition, the profit margins that you make need to be sufficient to support a growing business.

These are tough times for many businesses. Rapid inflation and so rising input costs. Rising interest rates leading to increased financial costs. Squeezed consumers buying less and making it difficult to pass on increased costs by increasing prices. Add to this, recession, and global supply chain issues, and for many it is the perfect storm conspiring to undermine business.