When I went into business for the first time, I pretty much went into it blind.
This was before I found ECN.
One thing I found was with banks, you had to really "sell yourself, personally" as to your ability to be able to perform in your capacity as a business owner and electrician.
Banks will not take on a bad risk here, which is pretty much good business sense, I remember taking screeds of paperwork and spending a lot of time with a Business account manager at the bank.
Alas,
My first attempt at being a business owner crashed and burned, probably through no fault of my own, I was working HUGE hours, but not being paid for the work and when your suppliers aren't getting paid, you have really big problems.
I have since gone back into business for myself, concentrating on only Commercial and Industrial work.
One thing I did learn the last time around, with Domestic work, you are pretty much at the mercy of wether your customer is going to pay or not, regardless of what you have signed before the job started.
I agree with Bill though, your best ally is a good Accountant, I have one who is a good friend as well, which helps.
If there is one thing I can say though, never ever fail to pay your suppliers, they are your life-blood.
{Sorry if I have taken this thread off-topic}
