Top Ten Reasons Why Businesses Fail

  1. Inadequate accounting records
  2. Disregarding or misinterpreting financial records
  3. Not controlling costs
  4. Inviting fraud through poor internal controls
  5. Failing to aggressively sell
  6. Insufficient working capital
  7. Not carrying adequate and appropriate insurance
  8. Failing to adequately train and develop employees
  9. Improper strategic planning
  10. Not seeking advice or professional help when necessary

(Provided by a former small business management consulting firm)

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