Common Reasons Why Small Businesses Fail
- Price: £3.60
- Published: June 2015
- Type: Business Information Factsheet
- Format: PDF
It takes a great deal of hard work to set up and run a successful small business. You will not only need to sell your product or service, but also manage the administrative aspects of the business.
In the UK, three out of four business start ups will not to get off the ground at all, and around half of those businesses that do start up will cease trading within 12 months.
By understanding the issues that can cause a business to fail, you are more likely to avoid the pitfalls, and this will increase the chances of your business surviving beyond its first year.
This factsheet looks at some of the common factors that could cause your business to fail and provides some suggestions on how these factors could be addressed.