Suppose you are thinking of starting a new business or owning your own small business. In that case, there are unpredictable reasons for the business's success and survival, i.e., both external and internal factors. A large number of business failures and successes depend on externally defined problems. Most small business owners have limited management experience, while they tend to have technical or professional skills.
This can result in a subsequent reversal of fortune in widespread business failure. Everyone, including suppliers, investors, employees, and customers, loses when a business owner fails.
According to the latest statistics and figures:
*90% of business failures are due to liquidity problems.
*Net profit margins increased to 10% in 2017, up from 5% in 2016
*80% of business owners make it two years in business, 50% of all businesses make it five years, 30% sustain ten years