What makes a business to fail?

[Ralphjoe]

Some business owners do actually have this poor funds management attitude actually. Going by this fact, it won't take long for such a particular business to collapse and finally fail though don't you think?

There are several factors that contribute in making a business to fail and one of them is a business owner not having the requisite knowledge of the business before going into the business. This reason is almost like 60% of the reasons why most businesses fail and the quicker people resolve this reasons the higher chances of most businesses becoming successful.

 

[Ghost1]

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.

Exactly there are numerous factors the faults may come from the entrepreneur due to improper planning and management some maybe out of his control

 

[Tislad]

Lack of adequate planning fails a business if a business is well planed it will definitely fail, so plan your business well before starting it so as not to make it fail.

 

[Joshua Idongesit]

Some many things can cause the failure of your business.One of them is wrong planning when you don't plan you business well you might not make profit from it another is lack of commitment when you are not committed to your business is won't come out well

 

[Adebayonle7]

Good points up there, when you don't follow the business plan strictly then the business is likely to fail, bad customer services, sales of non-quality or fake products, poor marketing and sales strategies, customers debts especially when they accumulate, poor location and many more cause business failure

 

[Tislad]

There are so many factors that fails a business but the first I feel is the staffs once you have a bad team in a company then it is going down.

 

[Ub40]

I agree with your analysis above. Apart from poor management, I think another cause will be poor planning. Personally, I see planning as very important. And so many other cause as mentioned above. That is just my opinion. Thanks for sharing.

 

[07Trinity]

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

Business failure is becoming rampant this days,most business finds it difficult to recover due to mismanagement,wrong decisions and using loan to fund the business.

 

[Senator]

There are business owners that are having this ery high unrealistic profit imagination that they think they can get from their business that they take very foolish risks that only end up ruining their businesses

 

[Skysaint]

Businesses do fail as a result of lack of technical know-how on the part of the business owner on how to run the business enterprise or due to overweighing strong competitors around.

 

[Toyoabasi]

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

That seems to be the crux of the matter... Poor planning.
I call it the foundation of every business, if it fails, the whole business fails.
It is important to take time and plan a business properly, know all there is to know about it before starting up to avoid folding up in a short time.

 

[Seno inyang]

There are some factors responsible for a business failure and these factors could be;
The failure to market online.
Failing to listen to their customers.
Failure to leverage future growth.
Failing to adapt and grow when the market changes. And failing to track and measure your marketing efforts.

 

[kayode10]

Lack of sales is one of the factors responsible for business failure. Lack of good management can also cause a business failure. The business will fail if those who are less competent handle the business operation.

 

[joy101]

Business can fail without proper planning for one to succeed in a business you need to have good planning toward your business, and also focus on your business.

 

[Good-Person]

Poor planing along with insufficient funds to cover loss is one of the primary reasons why most of the businesses fail and this is what I have noticed. Planning is really crucial. You should always have a plan B.

 

[Cyrus@21]

A business can fail when their is poor management. It could be poor planning, poor organization, poor decision making, poor control mechanism, etc. In a but shell, poor managerial acumen and skills are responsible for a business failure.

 

[Lens]

This is perhaps one of the reasons why I love to work on bizdustry. It's not all about the money but the knowledge one would gain. This thread got me and I have plans to follow the technological trend to develop my mini supermarket. My vision for the market is to make available products in all works of life.

 

[kayode10]

The business will fail and file for bankruptcy if the executive mismanagement the fund belongs to the company. This is the reason why it is good to hire the service of external auditor to monitor the internal financial operation of the company.

 

[eLdavis]

A business can fail due to lack of good planning, market strategy, enough funding, Low patronage, required knowledge For the success of the business and even lack of interest

Indeed poor planning has been the major cost of most business failing today. The problem is most persons do not even know what a good plan really is for their business. If I may asked what do you think is a good plan for a business? How would you personally classify a business plan as good or bad, are their any traits or standards you make use of?

 

[kayode10]

The business is going to feel when you hire someone who is not competent to handle the affairs of the business. They are going to engage in a lot of mismanagement and turn things upside down in the business.