Entrepreneurship is an exciting challenge, but the sad reality is that a high percentage of businesses don’t manage to survive in the long run. We will delve into the statistics of business failure based on robust studies and data, and how you can avoid becoming one of those statistics. Additionally, we present a unique opportunity to accelerate your business success.
Statistics of Business Failure
- Lack of Solid Planning: According to the World Bank report, more than 30% of companies close down due to inadequate planning. This includes the absence of a solid business plan, poor marketing strategies, and inadequate financial management.
- Financial Problems: Financial difficulties are a leading cause of business failure. 82% of companies fail due to cash flow issues. Lack of initial capital and an inability to manage costs are key factors.
- Lack of Adaptation: The market is constantly changing, and companies that do not adapt suffer the consequences. According to Forbes, 42% of failing companies attribute their failure to an inability to adapt to market needs and competition.
- Fierce Competition: Business competition is more intense than ever. A study by the U.S. Bureau of Labor Statistics reveals that 20% of companies do not survive more than two years due to fierce competition and an inability to stand out in a saturated market.
- Inadequate Resources: Insufficient resources, both financial and human, are a common factor in business failure. Over 25% of companies cite the lack of resources as the primary reason for their closure, according to a Statista study.
Our Upcoming Masterclass: “How to Land Your Project”
At the Tara Foundation for Women, we not only understand the statistics but also provide you with the opportunity to overcome these challenges and effectively achieve your business goals. Our upcoming masterclass, “How to Land Your Project,” is not just a source of knowledge but also an investment in your business success.
You’ll discover how to grow your business, increase your revenue, and effectively reach a broader audience. The knowledge and skills you gain will help you stand out in the market and achieve sustainable growth.
Join Us in the Fight Against Business Failure
At the Tara Foundation for Women, we believe in your potential and are committed to helping you succeed on your entrepreneurial journey. Statistics don’t have to dictate your destiny. Join us in this exciting masterclass and take control of your business project.