How A Business Startup Consultant Can Help You Launch & Grow Your New Business

  20 percent of small businesses generally fail within the first year. About 50 percent make it to the 5-year mark, and 62 percent survive to be a decade old. For African-Americans, the statistics can be even grimmer. Eight out of 10 Black-owned businesses fail within the first 18 months.

Wealth levels for Latinos and African-Americans are reportedly 11 to 16 times lower than for whites. Data recorded in 2016 found that white business owners start their businesses with an average of $106,720 in working capital compared to African-American-owned businesses, which are started with an average of just $35,205.

What Is A Business Startup Consultant?

A business startup consultant is a third-party advisor who provides industry and market expertise to startup projects.

The role of startup consulting can be vital in keeping a company going during its critical formative stages.

Startup consultants assess aspects like finances, hiring, company procedures, marketing efforts and more to ensure a visible brand presence, a promising brand reputation and the ability to scale.

Startup Consulting vs. Business Consulting: What’s The Difference?

A business startup consultant is typically brought in during the early stages of the company or when it is moving into a period of growth.

A business startup consultant assists new companies during this formative phase by helping them lay a strong foundation for financial success and future expansion.

These experts work directly with business owners to provide an in-depth overview of the market and help them reach informed decisions on the most sustainable direction.

Business consultants, on the other hand, frequently work with senior management teams in established companies. Their focus is typically on developing a strategy at the corporate level, often covering areas such as marketing, branding or logistics.

Business consultants may also provide recommendations on how to keep core brand values intact throughout periods of growth and transformation.