Small Business Prepare to Launch
According to studies by the Small Business Administration, over 50% of small businesses fail within the first five years of operation. This high rate of failure is primarily due to lack of planning and proper business development.
Reasons Small Businesses Fail
- Lack of business experience
- Insufficient capital (money)
- Poor location
- Poor inventory management
- Over-investment in fixed assets
- Poor credit arrangements
- Personal use of business funds
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