Common reason of business failure

[tuna89]

You are right, entrepreneurship is something you have to fully concentrate upon, failure in business may not be intentional but it is very easy to achieve, when the business plan is not strictly followed or when the business spends beyond its limit due to unnecessary expenses or when there is a bad customer service and irresponsible employees and many more.

 

[eLdavis]

one common reason most of our business crash is taking of unnecessary risk. When it comes to business, there must be risk taking, but have it at the back of your mind that each risk taken should be well calculated, there should always be a plan B and C after any risk taken in a business

 

[Chumzy]

Failure in business is something that happens everyday and can't stop. Statistics say that more than 90% of every new business fails. It is important to know that business requires deligence and focus.

 

[Ridorz]

There are many things that can make a Business failed, as we know that business is not a what person can jump into without proper knowledge, well planning/strategies. This mean that any business that its practitioner doesn't have knowledge about it can last and then plan is a foundation of a business if the business plan is not strong then the business will collapse.

 

[btaliat]

One of the major reasons of failure in business it's not knowing about that business enough before kick-starting it. having a half bake knowledge without getting someone to guide you could bring about massive failure in your business. so if you don't want to fail why starting up gather a lot of knowledge.

You are absolutely correct. People don't do research before venturing into buinsess. They only join because they hear that the business is lucrative. Failure to know more about the business leads to its failure.

 

[Kaindio Agnes Wanja]

Running a business is not for the faint of heart; entrepreneurship is inherently risky. Successful business onwers must possess the ability to mitigate company-specific risks while simultaneously bringing a product service to market at a price point that meets consumer demand levels.

There are several reasons that makes the business to fail.
Among them is lack of capital to fund your business .This is a very crucial problem that makes the business fail.
There lack of good management personel,where people managing the business have no idea of what they are really doing is another problem among others.

 

[Halexcity]

Must of the business failed because of lack of pasistecy and continuity as a result of laziness and more so new ideas or strategy are not been introduce to business and they go in long way to affect bussiness

 

[Atif3786]

Failure to market online. In an age where "Google" is a verb, if you're not marketing online, you're not selling as much as you could be. ...
Failing to listen to their customers. ...
Failing to leverage future growth. ...
Failing to adapt (and grow) when the market changes. ...
Failing to track and measure your marketing efforts.

 

[Sheun450]

There are a lot of reasons for business failure. Business failure might be caused through lack of proper knowledge about the business also mismanagement can also cause business failure at times

 

[Clara]

Common why business failed is because of poor management. Entrepreneurs should think of the future. Other reason is that some are too confident and not thinking of the bad sides and everything. Everyone should also be mindful of their employees. They must know their needs and wants that will motivate them to do their job efficiently and effectively.

 

[Lawal]

Reason for business failure are many it may be lack of proper management,it can also be lack of business idea,some are failures because of the low capacity when their is no money to finance the business it can go down, also the business failure occurs because of inability to manage business from the manager

 

[Ehtisham memon]

I think failure Bussiness in the not taking time and taking interested in our business and you have loosed hope to run our business if you should hope and taking interested and giving time in our business

 

[Rainlover207]

Poor cash flow management. You may be sick of being told “cash is king”, but it doesn't change the fact that poor cash flow management can lead to the demise of any business. Losing control of the finances. Bad planning and a lack of strategy. Weak leadership. Overdependence on a few big customers

 

[Psalmsavatar]

Businesses can fail as a result of wars, recessions, high taxation, high interest rates, excessive regulations, poor management decisions, insufficient marketing, inability to compete with other similar businesses, or a lack of interest from the public in the business's offerings.

 

[abubakar3141]

5 Reasons Why Small Businesses Fail

Failure to market online. In an age where "Google" is a function, if you're not marketing online, you're not selling as much as you could. ...

Failed to listen to your users. ...

Failure to take advantage of future development. ...

Failure to adapt (and grow) when the market changes. ...

Failure to track and measure your marketing efforts.

 

[Ralphjoe]

The most reasons for business failures that I have found out among many businesses is that the owners of those businesses don't know much about the line of business that they have started up. This is the number one reason why most businesses fails in the long and short run. It is pertinent that before someone can start a business he should make sure that he has all the requisite knowledge for the business even if it means he will be working for years just to learn that business.

 

[Judee201]

Businesses fail everywhere,Nigeria is no exception.But the incidence of failure can be minimized with effective business planning.Prospective business owners are encouraged to conduct adequate feasibility studies before venturing into business.They should also avoid the bandwagon.Innovation is the key to success in business.

 

[Gilead]

There are several factors that causes a business to fail:
1. No or insufficient business plan
2. No efficiency during business activities
3. A negative results of feasibility study and one still starts the business anyways.

 

[Cybersec]

Poor cash flow management. You may be sick of being told “cash is king”, but it doesn't change the fact that poor cash flow management can lead to the demise of any business. Losing control of the finances. Bad planning and a lack of strategy. Weak leadership. Overdependence on a few big customers

 

[Ziki]

Fast forward about 20 years to about five or 10 years ago where the idea of a solopreneur or the movement of the consulting economy and the development of the creative economy has made it more frequent that people are working independently, they're working as freelancers, they're working as consultants, they are developing personal brands around their particular personal expertise.