Question

Among the reasons why businesses fail, what might be the number 1 reason? How to prevent it?

Answer 1

Answer - The most important and main reason for the failure of business must be the Lack of Proper planning. The lack of proper planning increases the risk of the losses and collapse of business

The sound planning aims at the present targets as well as the future course of actions. These future course of actions much consider the market , behaviour of economy , consumers , credit and financial planning. The sound planning would clarify the targets to be achieved in short and long term. Hence this will prevent the collapse of business.