Why do some businesses fail even with a good business plan?

Why are businesses failing?

Photo by Luca Bravo on Unsplash

The Small Business Administration (SBA) released a statistical report on the low business failure rate in 2019. 20% of companies fail in the first year, and 47% do not succeed in the next 5 years; only 33% survive up to 10 years.

If the leader cannot lead the team, does not make appropriate decisions, and does not run their all works correctly, then his effect will face the company.

Conclusion

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Kamran Karim

Inspirational, Futuristic & Innovative | CEO of The Binary Geeks & Yachtefy.com | Author of “What to Expect Before Developing an App.” kamrankarim.com