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Reasons for the failure of many business
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[QUOTE="Bookwormlux, post: 221974, member: 25193"] There are countless reasons why a lot of businesses tend to fail and do not get to stand the test of time at all and this depends on so many factors that will be too broad to discuss here . Some of the reasons can be highlighted as, - Not acquiring enough knowledge about the business before you go about starting it. this is a major mistake that a lot of people make and they just want to go into business because they have seen their friends doing it without bothering to acquire the necessary knowledge. - Using borrowed money to start a business. This is a silent killer and has been the major reason why a lot of people we are not able to grow their business the way they initially planned to do . this usually happens when things do not go as planned and then they end up losing out the money they have without realizing there goals. When this happens, define it difficult to repay the loan and then have to sell off their businesses before settling the loan to avoid disgrace. - Going into partnership with people who are not trustworthy. This is the main reason why a lot of business fail to and people have to be careful who they partner with. [/QUOTE]
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Reasons for the failure of many business
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