Reason why businesses may fail
👉 Poor Customer Care/Support
Customers need proper attention for a business to survive. Without them, your product will fail to exist. When customers are not well treated or appreciated, they often become dissatisfied, leave bad reviews and patronize others.

👉 Mismanagement of Funds
Some small businesses fail because the owners mismanaged the business funds and there was no accountability.

👉 Inadequate Financing
Huge number of entrepreneurs make a common mistake of starting a business with no adequate operating funds. Most small business owner start their business without having enough that can finance the budget of their business. Some start the business with loan with heavy interested.

👉 Poor Business Management
The management play a key role to sustain a business. It comprises of activities such as planning, organizing, staffing, directing, motivating, controlling, co-coordinating and communicating. When a business is poorly managed, its death is imminent. Management

👉 Inability to Communicate Value
Communication is highly important in businesses. This is the only language your customers here. Some small businesses fail because of their inability to clearly define their value propositions — that is, they fail to understand and communicate their products or services to consumers effectively.