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Reasons for business failure.

Reasons for business failure.

According to Statistics Canada (Failing Concerns: Business Bankruptcy in Canada, 1997), most business fail because of weak general management, weak financial management, or weak marketing capabilities.

While these things can be learned though experience as the business evolves, they are usually learned too late or not at all before financial bankruptcy is declared.

Almost half of the firms in Canada that go bankrupt do so primarily because of their own deficiencies rather than externally generated problems. They do not have the basic internal strengths to survive””. From – About business Small Business Canada

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