What is the biggest reason for businesses failure?

[Imran_Noori]

I think the biggest reason behind the failure of a business is lack of management, if someone can not manage his/her business well then there is a big possiblity that it may fail.

What do you think can be a reason behind businesses failure?

 

[Iboro]

Businesses primarily fail because of lack of proper planning. Also lack of financial management makes a business to fail.

 

[Salt]

There are times when business owners allow their employees too much freedom and they start procuring sub-standard material to fill their pockets

 

[Good-Person]

I think the biggest reason behind the failure of a business is lack of management, if someone can not manage his/her business well then there is a big possiblity that it may fail.

What do you think can be a reason behind businesses failure?

I think that people usually fail because they have no creative ideas about how they could expand their businesses.

 

[Salt]

If you trust wrong persons in your business then also you can experience failure so we need to be mindful of this fact

 

[Good-Person]

If you trust wrong persons in your business then also you can experience failure so we need to be mindful of this fact

I think that we should not trust anyone when it comes to business. This is because all the people are looking for their own benefit in the world of business.

 

[Kane]

Lack of skills and knowledge is the primary reason for business failure. Another reason is an absence of a proper marketing strategy.

 

[Starmix]

Mismanagement is one factor that drives a certain business to failure. It is wise for a businessman to seek assistance from a family member to help him assist in his business if he lacks the know-how pf managing a new business. Another factor is the lack of capital.

 

[Salt]

I see some people are not serious about it and then regret it later and when they start the business they should do it with full focus

 

[Starmix]

Some business owners trusted their workers that they can manage well even without constant monitoring which is wrong. Those workers feel relaxed and lazy in the absence of the boss.

 

[Bisolami]

I think the biggest reason behind the failure of a business is lack of management, if someone can not manage his/her business well then there is a big possiblity that it may fail.

What do you think can be a reason behind businesses failure?

Some people also spend more than the amount of money that they earn in a business and it is not good.

 

[Starmix]

A business fails if you lack accurate planning, also capital. If the capital is insufficient, there is a tendency that a certain business failed. It is also necessary to do a weekly inventory to get updates on your business.

 

[Salt]

Some business owners trusted their workers that they can manage well even without constant monitoring which is wrong. Those workers feel relaxed and lazy in the absence of the boss.

That's true and this is why being a business owners we should not blindly trust anyone in our business

 

[Bisolami]

That's true and this is why being a business owners we should not blindly trust anyone in our business

You are right
We should limit the way we always trust people when it comes to money.

 

[Salt]

I have seen some of the business owners that does not get involved in business and trust the word of their managers and this is one of the reason of business failures

 

[tray591]

I have seen some of the business owners that does not get involved in business and trust the word of their managers and this is one of the reason of business failures

Sorry for if my reply upset you,do you know that there are some manager that performs almost the same function as the ceo?it's depends on who you employed and his level of exposure and qualification for that field of specialization,so I think improper planning is what contribute to business failure

 

[Melanie Marie]

I think the biggest reason behind the failure of a business is lack of management, if someone can not manage his/her business well then there is a big possiblity that it may fail.

What do you think can be a reason behind businesses failure?

I would say it's lack of sales.
If you're not making enough to gain profit or continue ordering supplies to keep the business going and/or enough to pay your employees, then that biz is going down. It's sad but true.
Your best bet would be to try a different type of advertising as a last resort, and if all else fails, hopefully you can still sell the business and not take a total loss.

 

[Good-Person]

I would say it's lack of sales.
If you're not making enough to gain profit or continue ordering supplies to keep the business going and/or enough to pay your employees, then that biz is going down. It's sad but true.
Your best bet would be to try a different type of advertising as a last resort, and if all else fails, hopefully you can still sell the business and not take a total loss.

A lack of sales is one of the basic reasons why a business would fail. However, there are many other things as well that could contribute to it and lead to a lack of sales. For example, a lack of supply of products could also lead a business to fail. Just imagine trying to get a product from a wholesale market only to find that it's not available in the first place. This could directly have an impact on your sales.