Starting, running, maintaining, managing, and growing a small business is no easy task. In fact it is absolutely grueling, and at times will seem impossible impossible.
Why do so many small businesses fail?
I have come up with ten common reasons why most small businesses fail. By taking a look at some of the known small business killers we can learn from the mistakes others have made in the past and learn from their mistakes.
Below is a list of the top ten reasons that small businesses fail.
10 Reasons Why Small Businesses Fail
- Lack of a Long Term Company Vision
- Failure to Establish Goals and Business Objectives
- Inadequate Financial Planning
- Not Listening to the Consumer
- Underestimating the Competition
- Lack of Leadership
- Ineffective Operations Procedure and Process
- Lack of Skilled and or Seasoned Business Talent
- Lack of Company Agility
- Failure to Communicate Internally