what are the factors that can contribute to business decline. Explain each dot point.
No using the internet. please use a textbook or your own knowledge only.
Answers
Answer:
Running a business is not for the faint of heart, as entrepreneurship is inherently risky. Successful business owners must possess the ability to mitigate company-specific risks while simultaneously bringing a product or service to market at a price point that meets consumer demand levels. While there are a number of small businesses in a broad range of industries that perform well and are continuously profitable, a larger portion of companies fail within the first 18 months of operation, according to the Small Business Administration (SBA). Without the proper tools in place to achieve critical business objectives, small businesses are on a path to failure.
To safeguard a new or established business from becoming one of the 80% of companies that fail, it is necessary to understand what can lead to business failure and how each obstacle can be managed or avoided altogether. The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.
Answer:
these are some factors that can contribute to business decline :
Lack of experience,Insufficient capital (money) ,Poor location,Poor inventory management.,Over-investment in fixed assets.,Poor credit arrangements,Personal use of business funds,Unexpected growth.
Explanation:
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