! 6 Reasons Small Business Fail (And How to Avoid Them)

We cannot fully cover money and banking without touching on various ways to lose money
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Ernest
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1) Statistics about new companies in the United States is rather grim. Barely 20% of startups survive their first year. Of those that do, half are closed in the next five years. All these have contributed to the fact that new business creation is at 40-years low. Even seasoned entrepreneurs can be discouraged by these figures.

2)Unclear Business Plan

Lack of planning has probably doomed more new companies than all other reasons put together. While there are things in life that you can swing, f…

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