Business failure

• Financial factors causing failure = lack of capital/ funding and knowledge, inadequate financing
• non-financial factors causing failure = poor management, poor marketing, poor quality, poor customer service, poor branding
• internal reasons why businesses fail:

  • poor planning
  • lack of leadership
  • ineffective marketing
  • cash-flow problems
  • lack of funds
• External reasons why businesses fail:

  • economics challenges
  • change in consumer taste
  • legal factors
  • market challenges
  • technological change