Causes of Failure for Small Business Lack of Experience Poor Management Under Capitalized Withdrawing Cash Business Plan Poor Location Poor Credit Practices Poor Inventory Management Unplanned Or Poorly Plan Expansion Wrong Attitude

Causes of Small Business Failures Neglect Disaster Fraud Economic Factors Lack of Experience Poor Financial Practices Lack of Strategy 3.9% 4.6% 2.2% 63.5% 1.0% 24.1% 1.0% Bad Management 89.6%

1.Knowing Your Business 2.Knowing Basics of Business Management 3.Knowing Your Market 4.Adequate Capital 5.Managing Finances 6.Managing Time Efficiently 7.Managing People 8.Satisfying Customers by Providing High Quality 9.Knowing How to Compete 10.Coping With Regulations and Paperwork Top 10 Challenges for Small Business