Not so cheerful - but, Why do Businesses Fail?

Why do Businesses Fail?

Many reasons… a mix of these:

Credit problems.
Poor location.
No, or too few, customers.
Red tape.
Under-capitalised.
Over-trading.
Health problems.
Family commitments.
Poor management skills.

But one of the biggest in my humble opinion:
Lack of experience.

Don’t assume that being your own boss makes you automatically a good boss.

My background is in sales and marketing management. When I went self-employed I thought I knew how to run a business. Well, I knew those aspects. But not finance, administration and all those other skills. When you were employed, others took care of their sections.

Remember – employment is nothing like self-employment. But also remember - when you get it right, it beats employment hands down!