Common Reasons of Business Failure

[Ryeetar]

A business will fail if the manager in charge is not efficient, a business will fail if the company produces inferior goods, a business will fail if they lack effective advertising strategy, a business will fail if the capital isn't enough to run the business, lastly a business will fail if the employer doesn't have a good relationship with his employee

 

[MarieArie]

An amazing thing happens when an entrepreneur sees a potential opportunity in the market, or dreams up a new idea for a product/service: they retreat to a cave. In my experience, this is the worst move an entrepreneur can make because complete understanding of your customer is imperative to your success. Listen -- in my mind entrepreneurs must walk 1,000 miles in the shoes of their customers

 

[Ltherman]

One of the common reason for business failure will be lack of capital to scale the business. This sometimes happen to businesses at a very crucial point in time where the funds is greatly needed. When ever the company is stuck it begins to die from within.

 

[Alexandoy]

The most common reason for business failure is the dwindling demand. It may be caused by the stiff competition or a gigantic rival that can steal customers by its attraction in marketing. I have seen how businesses closed shop when one building in our town was vacated because it was condemned for destruction (the building was very old). The tenants of the building were offices that the eateries beside the building lost their customers so they closed shop.

 

[Psalmsavatar]

Many factors are responsible for business failure parts of which are poor documentation, lack of accountability, reckless spending, poor monitoring and so on. A good entrepreneur must guide against all of the above.

 

[Richard92]

The most common failure in business is lack of good management, most people don't have good management structures for their business and this may lead to business failure. You must also have plans goal and objectives for your business, what it is set to achieve or else it will fail.

 

[Sotherefore]

The only reason I think some business fail is because people in the business are not willing to take responsibility and solve the problems of mankind because if you do not solve the problem of mankind no one will always like to come and do business with him that is the secret of business.

 

[Klashlly]

Common Reasons of Business Failure​

The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.
https://bizdustry.com/forum/businesses-individuals.31/post-thread

 

[Kehinde]

The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

 

[Shigobad20201]

The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

 

[Thosynho]

one of the common reasons why a new small business fail is as a result of lack of proper planning. A lot of young entrepreneurs jump into business without learning the rules of the business and they end up crashing at the middle.

This is very true and a valid point. Lack of adequate knowledge in the business you are into could easily make one to fail woefully. Also some people quickly spend from business that has not fully been stable which make them to fail too.

 

[M.ASADULLLAH]

Common reasons of business failure according to my point of view is firstly the lack of consistency some of people are not much consistent and fair in their business dealings they do not prefer their business much according to business requirements. and the other reasons of business failure is low budget we could not meet with the business requirements in our low budget.

 

[Kiko]

Lack of planning – Businesses fail because of the lack of short-term and long-term planning. Your plan should include where your business will be in the next few months to the next few years. Include measurable goals and results. Leadership failure – Businesses fail because of poor leadership. The leadership must be able to make the right decisions most of the time. No differentiation – It is not enough to have a great product. You also have to develop a unique value proposition, without you will get lost among the competition.

 

[Kelly5]

So many businesses due to lack of proper planning. To fail to plan in business is to fail in business. A business that will stand the test of time has to be well planned out. Many other reasons might be responsible for business failure some of which may be not paying careful attention to customers demands. Attitude of the employees is also a vital factor that may responsible for business failure. How are the employees relating to customers, how are they treating them and meet their needs?

The reasons for business failures in this time and age even in the time past is the inability for we the entrepreneurs to get a very sound and well researched information on what ever business we are trying to go into. This leads to a whole lot of losses.

 

[Ehtisham memon]

I think failure become success if the person have not take interested in our business and not taking and giving time to settle the business that way become failure in our business starting Bussiness is difficult to create the settle and big Bussiness

 

[mayyy]

Common reasons why business fails is because of the bad attitude of some staffs or because of the bad attitude of the owner that results the customers not to buy. And because of that other customers may tell others not to buy their business because of their bad behavior.

 

[TopSilver]

The biggest reason why businesses fail is they can never manage to make enough profit for what they are spending to make the product. They spend too much on other things like advertising and so forth and can't manage their money enough to where many times they are spending countless dollars on something that's not helping them at all. Where if they would spend money on more things such as adding new locations it might go over better. Small thrift shops struggle especially during this season.

A lot of times it's lack of locations. And where the location is.

 

[arrain3786]

More people fail not because they lack knowledge or talent but because they just quit. It’s important to remember two words: persistence and resistance. Persist in what must be done and resist what ought not to be done.
Try new approaches. Persistence is important, but repeating the same actions over and over again, hoping that this time you’ll succeed, probably won’t get you any closer to your objective. Look at your previous unsuccessful efforts and decide what to change. Keep making adjustments and midcourse corrections, using your experience as a guide.

 

[Chibson]

There are numerous reasons for business failure. You may even get nine out of the 10 correctly but that remaining one can cause a business failure. Number one, if the business owners does not know how to market dear business.
Lack of proper research can cause business failure, and if the business does not get proper feedback from the customers, that business may not survive.

 

[Ifective]

Business failure occurs as a result of a failed business plan. Before venturing into a business, one must make sure to draft a good business plan as a guide and necessary requirements for the success of the business.
Business failure also ooccur as a result of a business failing to satisfy customers to a certain extent. Without the satisfaction of the customers, a business cannot succeed
[automerge]1612095986[/automerge]
Business failure occurs as a result of a failed business plan. Before venturing into a business, one must make sure to draft a good business plan as a guide and necessary requirements for the success of the business.
Business failure also ooccur as a result of a business failing to satisfy customers to a certain extent. Without the satisfaction of the customers, a business cannot succeed