Surprisingly common reasons SMEs fail according to experts
With 91% of new businesses surviving their first year, but only 40% continuing to trade after five years, business experts around the world have different schools of thought about what business owners should focus on to ensure their ventures survive. However, there are some key areas which, if neglected by the business owner, are likely to cause any SME to fail.
A lack of planning, leadership failure, lack of capital, premature scaling and poor location are amongst the most frequent causes of an unsuccessful business. However, some of the most common - but lesser known - reasons for a failing SME can only be discovered by listening to the tales of those who have learned from experiencing failure and gone on to reach the very top.
Luckily, The Business Show at London’s Olympia is a FREE exhibition dedicated to helping businesses of all shapes and sizes to thrive, improve and expand. Running on November 16 & 17, Europe’s biggest business event features an SME Zone that offers a schedule of expert-led seminars, interactive masterclasses and unparalleled networking opportunities to business owners.