A Dozen Reasons Why Businesses Fail
Question: Why do businesses fail? I hear 90 percent of businesses will not make it past five years. Answer: The following statistics list why some businesses fail: Eighty-two percent have poor cash flow management skills or poor understanding of cash flow. Seventy-nine percent start out with too little money. Seventy-eight percent lack a well-developed business plan, including insufficient research on the business before starting. Seventy-seven percent fail to price properly Ñ they fail to include all necessary items when setting prices. Plus, they fail to point out what added value the company is brining to the table. Seventy-three percent…