Why Do Businesses Fail

Business Failure Facts

  1. 7 out of 8 companies failed to achieve profitable growth, although more than 90% had detailed
  2. strategic plans- Harvard Business School (Bain Consulting Study)
  3. 96% of businesses fail after 10 years.
  4. 96% of businesses never grow to 5 million in revenues.
  5. 95% fail within 5 years.
  6. 50% of businesses fail within the first year.
  7. 40% of all businesses are profitable
  8. 37% chance of survival in the first 4 years.
  9. 30% break even
  10. 30% are continuing to lose money.

10 reasons businesses fail?

  1. The owners are unaware of the market and demographics they are in.
  2. Lack of company goals and/or a business plan.
  3. There is too much overhead and/or expenses.
  4. The business was started for the wrong reasons and lacks the experience or training needed.
  5. Insufficient Capital.
  6. Poor Management.
  7. Poor location.
  8. They don’t have a Coach.
  9. They over expand too fast.
  10. There is no website or SEO. 

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