Related Tag Articles: business niche

5 good reasons why small businesses fail

27 October 2008

The term “dog eat dog” is a gross understatement when applying it to small businesses. A mind boggling fact: 80% of all small businesses will fail within the first few years of operation. This is a very sobering statistic, even if you’re not trying to run a small business.

When you open it up and examine what a small business is, you find that it’s truly the life-force driving a capitalist environment. Excessive greed aside, small business is a staple of any solid economy, and more should be done to ensure they do not fail. But, fail they do, and in no particular order, the top-5 reasons small businesses sometimes don’t make it...

One: No niche is a bad niche. Some businesses have trouble developing a customer base. These “niche” markets are essential in the success of any business, big or small, and whether you have an online business or run a land-based institution, having a customer niche is important.

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