Top 10 Reasons Small Businesses Fail Overview

The top 10 reasons small businesses fail are the following:

1. Lack of Experience

2. Insufficient Start Up Capital

3. Poor inventory management

4. Ignoring competition

5. Uncontrolled or unexpected growth

6. Poor location

7. Over investment in fixed assets (like plant and machinery)

8. Poor credit agreements with suppliers, banks or customers

9. Low Sales (no kidding)

10. Lack of proper planning

Stay with us, as we review in greater detail each one of these traps small businesses and solopreneurs can avoid in order to succeed and not become a statistic.