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The Fact Is – Most Businesses Fail
Knowledge of pricing and how the money really works in business were the key themes in the specifics of the 46% of failures for “Incompetence”.
Expanding too rapidly, and the mishandling of credit and borrowing were the main issues in the 30% of failures due to “unbalanced or lack of experience”.
Knowledge of suppliers, inventory, and wasted advertising dollars were the causes of the 11% of failures due to “lack of experience in the line of goods or services”.
- 70% of Businesses Fail 70%
- 46% Due to Planning, Pricing & Finance 46%
- 30% Due to Management of Credit & Expansion 30%
- 11% Due to Inventory, Advertising, & Supplier Issues 11%
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