Any business can fail if not well manage. It is one thing to start a business and it another thing for the your business to stand firm for life. These are examples of Nigerian Businesses that Failed Within 5 Years:
Unfortunately, not many people have the ability to develop a business, apart from not having capital, there are also some people who don't have the skills to develop a business. Business must be run according to consumer needs and review is needed before someone opens a particular business because if the target market is wrong then the business being run will definitely fail.
CONCLUSION
Establishing a strong and firm business doesn't come easy. It involves patient, time, passion and hardworking. Young entrepreneurs should try to learn from failed businesses and guide themselves with successful businesses.
The term building a business is not easy because it takes a long time to see the business develop, in fact many companies have to increase capital every year for the business they run and can only enjoy the results several years later when they have mastered the market Business requires large capital, skills and a good communication network, this is what makes it easier for many business people to develop because they receive encouragement and support from certain parties to develop it.