Entrepreneur

Are you an entrepreneur?

Do you have what it takes to be an entrepreneur?

Do you know how to start your own business?

The Small Business Administration or SBA says that about 50% of business fail during first year. The Small Business Administration (SBA) says that there have been lots of small business starting and going out of business. According to the Small Business Administration, over 50% of small business fail in the first year and 95% fail within the first five years of being in business.

Many business owners say they know how to start a business. Sometimes, you are so eager to start your own business, you forget a few details about starting a business. Whether you are starting a home business or starting a small business, the principles of how to start your own business are still somewhat the same.

Some of the factors attributing to failure of a business are:

1. Lack of experience of the people staring a basiness
2. Insufficient capital (money) to start a business effectively
3. Poor location for the startup business
4. Poor inventory management for the startup business
5. Over investment in fixed assets of the business 
6. Poor credit arrangements of the owners of the business
7. Personal use of business funds
8. Unexpected growth - some business owners don't know what to do when they start a business and sales is too high
9. Competition is too fierce for your business
10. Low sales

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