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Averting Business Failure

Dear ,

Welcome to a new week!In the real business world, it is not smooth sailing which is why many businesses fail. There is the risk that a business, especially a new business, can fail. It is therefore very important for business owners to be familiar with the factors that could trigger off business failure and do everything possible to avoid them.

Some of the factors that cause business failure are external to the business and therefore uncontrollable by the business owner. These include - business cycles such as seasons of low business or boom, inflation or loss in value of money, the interest rate charged by lending institutions, access to capital, and government policies or regulations.

However, some of the factors are internal and majorly within the control of the entrepreneur. Hence, the entrepreneur should focus more on managing the factors that are within his/her control. This article highlights some of these factors

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Do have a great week!Stay Safe!Sincerely,Oluchi Johnson-AchibiriCommunity Manager, msmehub.orgFATE Foundation1st Floor, Water Corporation BuildingIjora, Lagos

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