What makes a business to fail?

[Chizfab]

Mismanagement of funds, unfair treatment of staff, failing to reinvest in your business, wrong location of business, lack of strategic marketing plan, lack of proper business plan and evaluation. No feasibility study before the start of the business and lack of business knowledge and experience.

 

[tyrim88]

True, especially in cases you put in someone that has little to no experience to spear head the business, the person would not know what to do on certain issues or even how to follow the plan if at all there are plans put in place.

Most times some business owners just come up with a very good business plan and execute them,without thinking and making avenue for contineous improvement so as to be always relevant in his field of business.

 

[Blessingedidiong]

There are so many factors that makes a business to fail. Among them is lack of proper funds management. If all the profit made from the business is spent and nothing is out back into the business,there is no how the capital of the business will not be used to settle unforeseen debts. Apart from mismanagement of funds,another factor is inconsistency in business. If you are the type that is not always having your products available,your customers will not take your business serious and will not want to patronise your business.

 

[Mr Peter]

What are some of the things that makes a business to fail?there are alot of business this days that fails along the way,sometime poor management improper planing and lack of customers may be the reason why the business fail but aside from this factors what are others factors that cause a business to fail

Lack of commitment which is related to laziness is a key factor to business failure, so also is too much debt which is as a result of mismanagement most times

 

[eLdavis]

Most times some business owners just come up with a very good business plan and execute them,without thinking and making avenue for contineous improvement so as to be always relevant in his field of business.

That's true, they do not plan for the future, they just make plans for the now , how to succeed now but no plans to manage or even develop their idea to bring in more growth in the future.

 

[Setho]

So many things can contribute to the falling down of a business like even inconsistent government policies and then corruption in the workplace.

 

[tyrim88]

That's true, they do not plan for the future, they just make plans for the now , how to succeed now but no plans to manage or even develop their idea to bring in more growth in the future.

One of the mstakes especially years back most business person made was not seeing that the future was going digital when it comes to doing business on a global scale,And the change came to some just sudenly and most persons did not know how to respond to the change.

 

[Immilash]

One of the mstakes especially years back most business person made was not seeing that the future was going digital when it comes to doing business on a global scale,And the change came to some just sudenly and most persons did not know how to respond to the change.

that's true many people start up a business but some of them collapse because of lack of advertisement ,they don't advertise there products and they expect people to come and buy ,how can they buy without you advertising to them.

 

[Heatman]

Whenever you jump into a business without planning very well for that business there is always a high possibility of you not succeeding in that business because of the challenges you face in it.

 

[joy101]

What makes business to failed is not proper planing about for business to be successful you must know what it takes to make your business a successful one.

 

[JoeTom]

Well before you start a biz, you must define certain things to maintain and achieve. Now if those things you put in place when starting the biz is defeated, failure sets in...

 

[Heatman]

Lack of planning is one of the major thing that makes any business to fail because without any plan you have already plan to fail and also when you are making too much expenses on a new business it tends to kill the business faster.

 

[eLdavis]

One of the mstakes especially years back most business person made was not seeing that the future was going digital when it comes to doing business on a global scale,And the change came to some just sudenly and most persons did not know how to respond to the change.

True, I know of some persons who have refused to move forward buy adding their business to the digital world, they have refused to create a site online, or even make use of a social media handle, simply because they do not trust anything online.

 

[nimzy]

The reason why business fail depends sometime is as a result of the incompetent of the entrepreneur, sometimes lack of capital to fund the business, and the location of the business also matters alot.

 

[Senator]

Inexperience and the lack of hard work or dedication to ones business can be a reason for a business to fail. It can also fail as a result of lack of funds too sometimes

 

[tyrim88]

True, I know of some persons who have refused to move forward buy adding their business to the digital world, they have refused to create a site online, or even make use of a social media handle, simply because they do not trust anything online.

One thing about a service provider or product provider is the ability of the management to be always open to better ways of doing things,forcast is very inmportant,it will help you to picture what direction the future market will take.

 

[joy101]

The things that make business to fall is not proper planing and also not knowing the business to well before going into the business, is very good to know the kind of business you want to do before going into it.

 

[Dagm1]

Certainly there certainly are actually lots of elements that creates company to stop working, prior to entering into company you have to understand more around business and to strategy extremely will certainly as well as have actually understanding as well in business.

 

[Solutionav]

Well, factors that hinder business growth ranges from: poor management decisions, insufficient marketing, lack of interest from the public in the business offerings and failure to listen to customers.

You are right most business owners have problem with listening to there customers they will rather do what pleases them not knowing that customers are right

 

[eLdavis]

One thing about a service provider or product provider is the ability of the management to be always open to better ways of doing things,forcast is very inmportant,it will help you to picture what direction the future market will take.

Yes, this is exactly why most persons as a business owner are adviced to be flexible. In the sense that they should be open to changes, where ever the markets goes, you should be able to adapt.