Mark Wuttke

Small Business Risk Management: What You Need to Know Before Launching Your New Beauty Brand New beauty brands seem to be popping up on store shelves and scattering throughout social media feeds every day. Entrepreneurs, celebrities, and influencers are launching beauty brands at a rapid rate. Although the barrier to entry for beauty brands is lower compared to other brands, launching a new company always comes with risks. The current inflationary environment and a looming economic recession seem to be cause for extra concern — especially when it comes to launching a brand. In fact, a Business.org survey of small businesses found that 60% are concerned about the financial health of their business because of inflation, and 89% of small business owners have already had to increase the price of their products or services since the pandemic began in 2020. These financial strains are top-of-mind for business owners and leaders. Strains such as these inform and drive business decisions. For entrepreneurs launching a brand, financial impacts are always being considered, whether it is the rising prices of ingredients, packaging costs, marketing budgets, etc. There are ways to mitigate cost just like there are ways to mitigate risks when launching a company. Founders […]