May 1, 2006

CAROL CAIN: Know the risks before starting your own firm

Edward King, director of small business services at Wayne State University, comments about the rise in small business startups, particularly in Michigan as its economy continues to sputter. \"While starting a business may be the dream of many, without proper investigation, they may become one of the eight out of ten that will fail within 5 years,\" says King. \"Right now, we\'re seeing all these people getting laid off and getting big chunks of money that they suddenly have available, and we\'re seeing these scam artists trying to sell them business opportunities at 3 a.m.\" via TV advertorials \"or at their local business expo,\" King adds.

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