What makes a business to fail?

[Syldan]

Actually there are alot of factors that may lead to fall of business sometimes it depends on the kind of business investment, the location, funding and the management. when not managed effectively, it will definitely fall.
I think numerous factors lead to the failure of business some are curse by the global economic breakdown, some are as a result of poor resources management etc.

 

[Good-Person]

A lack of basic understanding of business is one of the main reasons why many businesses collapse and a lack of planning is also one of the main reasons why a business may fail. This is something that we witnessed during the pandemic.

 

[tyrim88]

There are so many factors outside of the business owner's control, too, that can lead to a business failing. Working in a field or with a business model that is badly affected by a recession can lead to failure, for example in times like the present. At the same time, certain niches become oversaturated with time or the demand decreases.

One thing that most business owners hould understand is that there are external and internal factors that can make busineses to fail,lack of proper understanding of the sector you are in and the needs of customers is one of them.

 

[Lucy ID]

There are different reasons why businesses fail, some of the reasons are poor or inadequate planning, mismanagement of funds, wrong staffs, no proper funding, wrong clients or customers and wrong location of the business

 

[Chibson]

There are many factors that makes business to fail, before going into business you need to know more about the business and also to plan very will and have knowledge too in the business.

Probably, any business venture that is not properly plant will probably fail. A lot of people make the mistake of venturing into a business because they see other people doing so.

 

[Good-Person]

I think business failure has its roots in planning and starting a business. A business is doomed when the owner fails to plan the business in the initial stages of business.

 

[Shigobad20201]

Lack of early preparation like having a good business plan prepared for the business , doing the necessary research and greeting greeting good location for the business is the main reason why most business fails ,