Starting an SME and the associated pitfalls [business management]

This paper gives but a brief guide to avoiding some of the pitfalls of starting a small/medium-sized enterprise (SME). It should be remembered that being a director of a limited liability company carries a very heavy responsibility and that limited liability is no protection if directors are seen to have traded recklessly. Starting an SME is a risk and success will require long working hours, considerable planning and more than a little luck. However making a success of an SME is a very satisfying and worthwhile experience