No one wants their business to fail, but there are 10 main reasons why it may. Discover what these are and what you can do to avoid these problems.

1. Insufficient Working Capital
It is crucial for businesses to have a financial cushion especially in the start-up phase. Ever changing markets can take many unexpected turns which make financial reserves a must. Ensure that you are realistic in how long it will be your turnover starts and how much money you need to survive until your company becomes profitable.

2. Lack of a Solid and Visionary Business Plan
The markets are living, breathing environments and are constantly growing and changing shape; for this reason, your business plan must include some kind of realistic look into the future and how the company can adapt to the needs of this ever changing market.

3. Inappropriate Strategic Planning
The company must create goals that are realistic but precise. The business plan should be consulted regularly so that the employees are clear on what their responsibilities are and the direction that the company is taking.

4. Inability to Market Products and/or Services Effectively
If a company is unable to penetrate its market, steadily increase awareness, and effectively market their product then all the other strengths of the company are useless. Make sure that your company is market driven