Is small business failure due to lack of money or a lack of ambition?
I enjoy working with small business owners and self- employed individuals who run their own show. Some have registered small businesses, and others are informal business owners. However, the people,Ideas and motivation behind a business matter.
Working with small and medium — sized businesses makes one realise that some businesses’ capacity for earnings is minimal, and others make a decent revenue. However, manages cash flow poorly. What a business does with its cash flow matters significantly. From experience, most small businesses fail to manage the money and resources in the business.At the end of the day, Nothing worthwhile is achieved.According to research , 70 %-80% of small businesses in South Africa close within 12 months of operations. Sad as it is. It is unfortunate because small businesses contribute to providing employment opportunities and reducing poverty. Therefore, one thing I have been trying to do is learn why the failure rate is so high. There are several reasons for failure- I won’t get Into and a topic for another day.
Another thing you notice is how quickly small business owners and managers spend money. Most…
