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Why may a new business fail?

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Reasons why a new business fail include;

  • Inadequate capital/operation capital may be inadequate to sustain.
  • Poor inappropriate marketing
  • Stiff competition
  • Inefficient management skills
  • Lack of inadequate man power
  • Inadequate modern technology/inappropriate technology
  • Political instability
  • Lack of planning to accommodate future changes
  • Poor customer relation/care leading to loss of market.
  • Inappropriate product/business for intended market
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