Poor management
A company whose managers do not have the experience to make sound decisions cannot control the cost of production, due to which the profit decreases, and the decrease in profit is actually the loss of the business.
Lack of market research
A new restaurant opened its branch in an area without research, where there was no demand for its type of food, which resulted in the business going out of business, so whenever starting a business, do basic and detailed research.
Lack of capital
A start-up did not get funding as per its business plan, due to which it could not continue its operations and went into losses. Don’t start a business without management.
Lack of proper marketing
A new beauty brand did not advertise its products properly, which failed to reach the consumers and the products could not be sold.
Corruption and bureaucratic hurdles
An import-export company faced corruption from customs and government agencies, which increased its costs and led to losses. Generally, small businesses do not have these problems, but the police sometimes harass them, especially in Karachi. .
Inappropriate location
A shopkeeper set up his business in a location where the number of people was low and there were no potential customers passing through the location, causing the business to fail, where there is traffic but people do not stop or there is no parking. Do not choose such a location.
Competition pressure
A small grocery store has lost market share due to larger supermarkets and has been merged with a larger store, so keep a close eye on the competition.
Lack of technology
An old factory did not use the new technology, due to which its production decreased and it was left behind in the modern business environment, it is necessary to understand and use the tools and technology of the present day.
Human resource problem
An IT company could not find skilled and experienced software developers, due to which projects were not completed on time and incurred losses, always keep the work going by building a competent team.
Unforeseen external circumstances
An agricultural company suffered losses due to weather changes and floods, crops were affected due to which its profits decreased and losses were incurred, no one emphasized it.
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