Most inspiring entrepreneurs fail to run newly created business

[Xtynehappy]

In my location there are so many new businesses that had been closed in their under six months of their launch. I really wonder whether the situation is the same in your countries or what?

 

[Suba]

In general in developing countries, startups and new businesses launched around 60% fail or close before they reach a year of age, of course this failure has many causes, maybe because the entrepreneur lacks skills, or capital, etc.

 

[Springtime]

This can be due to the poor economy, or the entrepreneur is not running the business properly.

 

[eLdavis]

Situations like this is very common here and in so many other countries. Not all businesses is able to survive for so many reasons after startups.

 

[Augusta]

Yes, I have also noticed it as well. it seems the economy and it's inflation rate are not allowing business startups to survive

 

[magnus2022]

In my location there are so many new businesses that had been closed in their under six months of their launch. I really wonder whether the situation is the same in your countries or what?

Yes! I have noticed the same in my locality. Most new business fail due to economic problems especially inflation. Another factor is inability of entrepreneurs to access loan from government and monetary institutions.