Small Business - Why Most Small Businesses Fail

The vast majority of small businesses fail. Why is this?

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
  1. Lack of a Long Term Company Vision
  2. Failure to Establish Goals and Business Objectives
  3. Inadequate Financial Planning
  4. Not Listening to the Consumer
  5. Underestimating the Competition
  6. Lack of Leadership
  7. Ineffective Operations Procedure and Process
  8. Lack of Skilled and or Seasoned Business Talent
  9. Lack of Company Agility
  10. Failure to Communicate Internally

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