On average, about 20% of the small businesses fail during the first year itself by the end of the fifth year, roughly 50% have faltered. After 10 years only about one-third of the business ideas survive the long game. This information is according to the US bureau of labour statistics.
In this episode of the Business Veda Podcast your host Malay Damania is discussing why so many startups fail and aspiring entrepreneurs become stagnant so soon leading to putting up their business for sales or close.
Having the experience of more than three decades working with numerous MSME businesses, interacting with and observing entrepreneurs, Malay is sharing the top 5 reasons why small businesses fail.
The discussed points are
- Working with low margins
- Negative cash flow that impacts the business
- Absence of recurring revenue model
- Lack of talented manpower
- Distracted marketing strategy
Listen to the entire episode to know more about it .
Buy Malay’s book - Business Champ
Malay Damania conducts business mentoring and coaching sessions to help small and medium business owners, startup founders, entrepreneurs, and CEOs to get past their stagnancy in business to move into a growth trajectory.
Book Free Consultation with Malay
Connect with Malay at:
Website - www.malaydamania.com
Linkedin - https://www.linkedin.com/in/malay-damania-23285717
**This show is produced and managed by Done For You Podcasts, full-service podcast launch and management company**