Why new businesses fail?

[Starmix]

New business but new problems to shoulder own. Who is to blame? It is not your customers or it is not your appeal to the community. There are strong reasons why your new businesses might fail in a gradual mood. It is advisable to listen to your conscience before making a final go. The bottom line f being careless is business failure.

These are the strong reasons why new business fail:
1. Not Investigating the Market
2. Business Plan Problems
3. Too Little Financing
4. Bad Location, Internet Presence, and Marketing
5. Remaining Rigid
6. Expanding Too Fast
It is never good to operate a business and jump to the conclusion that you can make it so easily. There is never a surety if you failed to investigate your market. If the people there are potential buyers. Make sure that your business plan is doubled check ad tested by time. If your capital is too little, never gamble, you will never succeed or if succeed you will land to many loans. Check if your location is internet friendly and transportation is accessible and lastly, never expand too fast, what for? Do not compete with other businesses already established and yours so new.
What is your decision now?

 

[Shavkat]

You had mentioned most of them. As for me, they failed because of mismanagement. Besides the point, they did not conduct a business feasibility study. It is one of the factors why they failed.

 

[Starmix]

You had mentioned most of them. As for me, they failed because of mismanagement. Besides the point, they did not conduct a business feasibility study. It is one of the factors why they failed.

It's indeed important to conduct a mini survey if they don't know how to write a feasibility study. Not all can write it, but for a mini survey it's as easy as eating a pan cake. lol.

 

[hastral45]

Many factors could be responsible for new business to fall. It could be as a result of lack of proper planning or implementation of the programs.
Lack of proper financing could also hinder the success of new business. Finance plays major role in the survival of business.

 

[Heatman]

New business but new problems to shoulder own. Who is to blame? It is not your customers or it is not your appeal to the community. There are strong reasons why your new businesses might fail in a gradual mood. It is advisable to listen to your conscience before making a final go. The bottom line f being careless is business failure.

These are the strong reasons why new business fail:
1. Not Investigating the Market
2. Business Plan Problems
3. Too Little Financing
4. Bad Location, Internet Presence, and Marketing
5. Remaining Rigid
6. Expanding Too Fast
It is never good to operate a business and jump to the conclusion that you can make it so easily. There is never a surety if you failed to investigate your market. If the people there are potential buyers. Make sure that your business plan is doubled check ad tested by time. If your capital is too little, never gamble, you will never succeed or if succeed you will land to many loans. Check if your location is internet friendly and transportation is accessible and lastly, never expand too fast, what for? Do not compete with other businesses already established and yours so new.
What is your decision now?

If a new business is not built to face the competition that is already in the market in order for it to survive, it is going to be very difficult for the business to make any progress.

 

[Niyi Briggs]

The three major problems that I would pick from that list stem from setups if new businesses. Poor planning would set the business on a wrong foundation,. Some with poor financing. Wrong location is as a result of poor feasibility study.

 

[Johnson2468]

Some new business do fail as a result of insufficient research and bad business plan. This can happen when the owner of the business is trying to rush some things that suppose to be done gently and well. So when start a business it is good to take your time when plan and doing research

 

[Stardom22]

There are so many challenges that oftenly cause most businesses to fail. Most of the common ones are; the insufficient amounts of business funding to boost the business capital in a matter of fact.

 

[Starmix]

If a new business is not built to face the competition that is already in the market in order for it to survive, it is going to be very difficult for the business to make any progress.

It's indeed not good to compete especially if your business is new. It's not good to adjust all your prices to attract buyers. It seems throwing them all to a wasteful plan. It's a must to be yourself and wait for the right timing.

 

[hastral45]

It's indeed not good to compete especially if your business is new. It's not good to adjust all your prices to attract buyers. It seems throwing them all to a wasteful plan. It's a must to be yourself and wait for the right timing.

New business do seldom fails as a result of logistic problem. A new business is likely to fail if enough feasibility studies had not been carried out. Any new business created mainly for the purpose of making money is likely to fail.
Similarly, if the owner has no prior knowledge in the business may find it difficult to successfully run the business smoothly.

 

[Starmix]

Very well said, location is also a key factor for a business to fail yet if it has been part of the feasibility study the business owner may not push through his plan to invest in a non logical logical place. The sales may surely be low.

 

[cherry123]

New business fails for different reasons as such one just have to be careful. it could start from lack of proper planning or implementation of the goals or vision for the business

 

[IB D]

The first point where new busineses fail is at the planning stage. When the plans are faulty, there is nothing much that can be done. You would just have to be hopeful and hope is not a good proposition to build a business on.

 

[Starmix]

New business fails for different reasons as such one just have to be careful. it could start from lack of proper planning or implementation of the goals or vision for the business

It is true, if the business owner lacks the implementation of his plans, most probably he will face failure because he failed to plan well. It is better to assess the pans every now and then if fully implemented.

 

[aovurevu]

Too many competitors choked in a specific location too is a cause , and as a new business , you may want to run adverts while some even go as far as giving discount at first start so as to attract customers and those customers may even later move elsewhere when they stabilize their price to the market price and still not different from others in any way.

 

[IB D]

One reason why new businesses fail is because upcoming entrepreneurs always take advice from all and sundry in running their businesses. And at the end, the business is choked and can't run on it's own.

 

[cherry123]

A business will fail when the owner lacks the implementation of the laid down plans or if the person failed to plan well. It is better to assess it well before adopting

 

[IB D]

Most new businesses always want to start above their levels. They don't realize that they have to stay and learn the process and move up gradually. That is one of the major reasons they fail before they bloom.

 

[cherry123]

Yeah some people want to start a business above their levels. They borrow huge money from banks and now struggle to start paying . it is good to start small

 

[eldavis]

It depends though, there are so many reason why most new business tend to fail. Some of which includes lack of proper planning. Most new business today do not have any sort of plan in terms of how they should run the business.