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Why do business fail?

Sanjeev

Sanjeev

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I have seen lots of companies close when they get bankrupt. A number of factors, including as shifting market dynamics, increased competition, and declining profit margins, might put them in danger. What are the additional elements you think are the reasons for business failure?
 
There are so many reasons as to why most businesses fail. Most times it could be due to poor management, other times it could be lack of having a proper business plan.
 
The manager is not serious about running the business because he only received a business inheritance from his parents. Apart from that, business failure can also be caused by products that are outdated, such as cellphones that are not Android smartphones or iPhones. there are no more fans.
 
pousinha said:
There are thousands and thousands of reasons. Lately, we have had one under our eyes every day: the COVID. Even the best planned business couldn't stand such a pandemic event and the lockdown as consequence.
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Yes, during COVID, lots of businesses had to shut down because of a lack of orders, manpower, and ultimately money to continue the business. This caused many people to lose their jobs.
 
I remember the owner of an optician shop telling me she shed so many tears when she had just opened her business at the end of 2019 and soon the lockdown cause covid came. She had contracted huge debts cause the loans she took to start the business and only God's compassion prevented a sure failure.
 
King Belieal said:
A business can fail because of innovation. A new method or a new product can effectively close down a business if it doesn't adjust quickly to the new methods.
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This is the primary cause of business failure. The owner was unable to embrace new technology that may have reduced costs and improved quality. The business may fail as a result of new technology being too expensive and beyond its reach.
 
Businesses fail if the business owner has powerful enemies. Some of the largest tech and internet companies have criminally defamed, cheated, exploited, robbed me for 14 years and now when I complain they are robbing my orders causing further losses.
 
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