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Why So Many Small Businesses Fail?

Answer»

According to the U. S. Small Business Administration, two-thirds of new businesses survive for two years, and less than half make it for four years. And “making it” doesn't necessarily mean profitable. Why do businesses FAIL? Top reasons include management inexperience and insufficient capital. Other reasons include INADEQUATE business plan, lack of market knowledge, weak management team and concentration on tactical instead of strategic issues.

GMR Business Incubation Managers works with entrepreneurs to mitigate risk, reduce expenses, develop and EXECUTE viable business plans and to improve their likelihood of SUCCESS.

According to the U. S. Small Business Administration, two-thirds of new businesses survive for two years, and less than half make it for four years. And “making it” doesn't necessarily mean profitable. Why do businesses fail? Top reasons include management inexperience and insufficient capital. Other reasons include inadequate business plan, lack of market knowledge, weak management team and concentration on tactical instead of strategic issues.

GMR Business Incubation Managers works with entrepreneurs to mitigate risk, reduce expenses, develop and execute viable business plans and to improve their likelihood of success.



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