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There are so many, it's beyond an accurate count, and there may be other reasons coupled with a lack of planning. Read the below as to why businesses fail.

Some reasons are as follows.

  • No written plan
  • Little or no education in business
  • No coach or mentor
  • Did not take advantage of appropriate resources (SBA for example)
  • Lack of start-up finances
  • Wrong location
  • Lack of collecting and analyzing informational resources (internal and external driving forces to include information on the competition)
  • Poor management skills including the inability to appropriately manage material, human, financial, and informational resources to achieve the organizations goals and objectives
  • Starting a business for the wrong reasons
  • Lack of good advertising to include a good web page
  • Lack of a real passion for business
  • Lack of contingency planning (risk management)
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15y ago

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