In his book Small Business Management (published by West Publishing Co.), Michael Ames gives us the following reasons for small business failure:
- Lack of experience
- Insufficient capital (money)
- Poor location
- Poor inventory management
- Over-investment in fixed assets
- Poor credit arrangement management
- Personal use of business funds
- Unexpected growth
Gustav Berle in The Do It Yourself Business Book (published by Wiley Co.) adds two more reasons to Michael Ames' list:
- Competition
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Low Sales
