Are you a victim of the common financial mistakes that kill small businesses in Africa? You’re about to find out. I’m sure you would have heard the notorious statistic that nearly 80 percent of small businesses that start today may die within the first 18 months. This is both a sad reality and a mindblowing suicide rate by any measure. I call it ‘suicide’ because most small businesses actually kill themselves without knowing it. Entrepreneurs and small business owners often form bad habits and make harmful decisions that ensure their businesses don’t survive. Don’t get me wrong; a business can fail for several different reasons. Some of these reasons are external (like a bad economy) while many of them are internal (you and the way you run the business). Sadly, poor financial management is one of the biggest internal reasons for business failure. This article looks at five common finanical mistakes that small businesses make in Africa. If you already run a busin...