We are obviously in difficult economic times right now and many businesses are struggling with less customers, greater overheads and cashflow concerns. Although these are easy reasons to be given, not all business failures can be blamed on the economy. Research has indicated a few other areas that all business owners should keep reviewing:
Not enough capital
Growing too fast
Hiring the wrong people
Lack of experience in the team
Too few customers
Incorrect pricing
Poor financial controls
Bad debts
Poor control of your overheads
Competition
Poor communication with staff
Health issues of the key people
Bad management & Poor supervision
Poor communication with suppliers
Poor communication with customers
Bad luck
Poor planning
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