How Do you - Assist in Business Failure

You can almost guarantee small businesses failure by doing certain things or having certain things.

These are:

You can do these things

• Overtrade.
• Fail to plan.
• Not keep books and systems.
• Lose time in complying with regulations and red tape.
• Carry out poor financial control.
• Not hire staff to cope with production and sales
• Have staff that are "troublemakers"

You can have

• Poor business management experience and skills.
• Poor cash flow due to bad debts and inefficient collections.
• Lack of sales and revenue.
• Lack of capital.
• Excessive funds taken for private use.
• Internal problems to do with shareholders, managers and staff.
• Other reasons such as poor pricing, lack of employee productivity, inability to get good staff, inability to arrange funding needed, lack of marketplace and competition, failure to seek professional advice as required, poor location and failure to keep up with developments in technology.

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