top 10 reasons of why most small businesses fail
By Precious Mvulane
Why do small businesses fail? Business failure isn’t something you want to think about when you start a business. But if you want your business to succeed, you need to know, and avoid, these top 10 common reasons why businesses fail.
- inadequate business planning
- insufficient capital
- lack of management experience
- poor positioning
- poor inventory and cash flow management
- over-investment on fixed assets
- poor credit arrangements
- personal use of business funds
- competition or lack of market knowledge
- low sales or not pricing properly.
Sources : Small Capital with Microsoft, Mweb, Standard Bank
Including SAICA reports