Common reason of business failure

[Chizfab]

A business strives where is adequate means of getting financial assistance, enabling environment, favourable laws and procedures, with adequate infrastructure that supports the running of businesses and facilities. Without the aforementioned elements, then businesses cannot strive or survive.

 

[Ezekiel]

One of the reasons people fail in business is due to lack of orientation, inability to get more Knowledge from others who have there before them.

 

[Kunkun]

Businesses fail for several reasons and there's no standard or consistent reason, but working or starting out without a business plan is one of them, because it helps serve as a blueprint for the business

 

[Alexandoy]

One of the reasons people fail in business is due to lack of orientation, inability to get more Knowledge from others who have there before them.

You may be right that lack of orientation can be a reason for business failure. However, that is not a common reason and I guess lack of orientation is rare in a business. You do a research before you make a start up, right? That means you have an orientation on the business already.

 

[Senator]

A common reason you will find in why businesses fail is that the owners of these failed businesses never had the right type of information for that business before getting involved in them

 

[Kunkun]

There are lots of reasons why a business could fail, the success and failings of any business would determine to a large extent the business owner, his management style to say the least

 

[Josan]

Lack of business plan and poor management can be the main sources of business failure, nevertheless if money is not enough to arrest an issue as regards the failure then the failure is inevitable.

 

[Ghost1]

The commonest ways why business fail is poor planning and improper management. If this 2 problems are sorted out you have no problem with your business

 

[Heatman]

One of the biggest mistakes that most people do when they start of a new business is putting a lot of expenses on that business which will make it very difficult for the business to grow and then fail in the process.

 

[Dagm1]

Among the significant factors of failing in company it is unknowning around that company sufficient prior to kick-starting it. possessing a 50 percent cook understanding without obtaining somebody to direct you might produce huge failing in your company. therefore if you do not wish to stop working why launching collect a great deal of understanding.

 

[Heatman]

The main reason why some business fail is lack of planning, without good planning in a business can bring failure in business, for your business to be successful you need adequate planning.
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The main reason why some business fail is lack of planning, without good planning in a business can bring failure in business, for your business to be successful you need adequate planning.

Exactly, without a very detailed plan for a business it's almost inevitable for a business to fail because you don't have any plan with which you run your business with.

 

[Kubiat-Abasi]

One of the most common reason for business failure is; debt, nonchalancy and not being transparent when dealing with customers.

 

[Abigael]

Businesses fail for several reasons and there's no standard or consistent reason, but working or starting out without a business plan is one of them, because it helps serve as a blueprint for the business

Yeah, lack of a business plan can make you fail miserably. This is because you will be doing things without a proper guide. That way, you end up getting stuck on the way or experience challenges that you had not anticipated.

 

[Sotherefore]

Some people ,the pride of starting a business may not allow them to concentrate and look for the possible way of how they can improve their business ,they will be thinking of the profit they will be making instead of them thinking of how they can satisfy the needs of customers.

 

[Senator]

One major reason of a business failing is the issue of debt. When a business is so into a lot of debt, the business might not be able to service the debts and also itself anymore at some point and that's the end of the business

 

[Ceeny007]

Poor communication pattern between the executive and the common staffs of the firm, lack of clear goals and objectives amongst others

 

[eLdavis]

One of the most common reason for business failure is; debt, nonchalancy and not being transparent when dealing with customers.

Well said, even how they communicate with customers still goes a long way as to how far the business would stand. It is no news that most customers are rude, but most employees are even worse, they lack the skills on how to take care of customers.

 

[Yhubee]

It could be inadequate planning ,poor funding,poor market strategy and lack of enough knowledge about the business

 

[Senator]

If the business owner is always having problems with his members if staff, this can go a long way in affecting the business he does not make the necessary changes among his staff

 

[kayode10]

Lack of capital is one of the reason why some reasons fails. Some business owners find it difficult to raise capital for their business to push it to the next level.