There are things that small businesses can do to minimize failure, reports Kiplingers. 

“Regardless of what kind of business,” observes Bakersfield, Calif.-based CPA Michael Stevenson (opens in new tab), “the risk of failure should always be kept in mind along with a large question mark: ‘What, if anything, could I be doing wrong? What have I missed?’ Answers to these questions spell success or failure.”

According to Yahoo Finance, small businesses can take advantage of several small business tax breaks, like the employee retention credit. 

Small employers faced unprecedented times in the last couple of years. Fortunately, Congress passed tax incentives for small business owners to take advantage of this critical situation.

Businesses that previously applied for the Restaurant Revitalization program can now apply for a special tax credit, reports Small Business Trends. 

The new legislation creates a special tax credit that is available to businesses that had previously applied for the Small Business Administration’s Restaurant Revitalization Fund (RRF) program, but did not receive a grant because the program ran out of funding.