- Around 80% of small businesses fail within the first year and roughly 50% will fail before hitting the 5-year mark.
As for why the small businesses are failing the reasons may vary from individual businesses. However, there are some reasons that are more commonly seen in practice ranging from failed market research, having a wrong pricing strategy or not having raised enough capital.
In the end, it all boils down to not having a SOLID BUSINESS PLAN!
- We help entrepreneurs to conceptualize their business visions and create value for their solution or service. Together we will cover all corners of the business model to ensure sustainability after launch and a solid brand that creates trustworthiness in the eyes of the public.