Mistakes and Failures of a Business Essay
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Small and large business fails because they take risk to many risks in what they do. Lots of times it is the employees that make or break a business or the owner of the business, which makes a business fail. The way they fix the problem is to ask the employees what they are looking to get out of the business and what they like to see done with the business these way owners and employees can work together as a team and not make mistakes and failures in the next years to come.
Lots of business blindly trust employees witch means that the worker can take from the business or have problems with others they work with from day to day. The employee will give his/her boss mix singles on the task at hand and with that the business will fail and lose profits as well there income or overheard will be lost. The biggest failure of a business is employee time theft this cost the business money and time witch can fail a business and is a big mistake the business misses every day. As stated by go4funding. com every single day, many businesses fail for numerous reasons.
According to the United States’ Small Business Administration (SBA), approximately 90% of all small enterprises fail within the first two years of operation, primarily because many entrepreneurs lack the basic knowledge and experience in handling the challenges of their company in its initial stages. The following are several common problems that are encountered during this vital preliminary phase. Business owners should be informed about these issues and work diligently to address them in order to avoid failure.