These devices are by no means complete

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Any of the choices that best suit your company’s needs may be chosen. But keep in mind that you’ll need to implement a revolutionary strategy to enable your company to manage its cash flows more effectively and sustainably. The number of new entrepreneurs dreaming of becoming the next Steve Jobs or Bill Gates is pretty staggering. For this reason, March 2020 recorded a surprising 804,398 new businesses less than a year old in the US.


Moreover, the number rose by more than 100,000 email database uk than the record from the previous year, highlighting the ever-increasing interest in people to venture into the business world. Yet, these new entrepreneurs soon face the harsh reality. According to research, 2019 saw a 90% failure rate in start-ups, with 21.5% failing in the first year, 30% in the second, while 70% shut down by the tenth year. These statistics are enough to give any budding entrepreneur a pause.


What Are The Causes Of Business Failure? Many reasons contribute to business failures over time. Some of the most common ones are: Lack of funds– Most entrepreneurs dream big and take a massive loan from the bank or pool in their entire life savings to gamble on their budding business. But when the outcome doesn’t pay off, the cash flow dries out, and you’re left with no option but to close your business and figure out ways to pay off your debt.