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Will makes some very good points about the obstacles facing a new site, but the reality is that the single biggest problem a new or growing website will encounter will be the working capital requirement.
On average, I have physically received into my accounts the revenue from only 2 or 3 of the 15 or 16 days in the period before I have to pay them out which means that the better we do, the more I have to fund from my reserves.
Now I know somebody (probably Mitch) will reply that the answer to that is simple. Get a merchant account with daily payouts, but that is not always as easy to do as it is to say when you are neither a US National or based in US.
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