List and discuss at least three causes of small business failure.

List and discuss at least three causes of small business failure.

There are different reasons of small business failure. Three of them are discusses in the following (Kamo, 2016).

1. Small businesses may fail due to leadership failure. If the leadership is unable to keep their nerves and make sensible decisions, there is a probability that the business may not flourish.
2. Lack of uniqueness may also be an issue that could cause a small business to fail. For example if a small business is trying to copy the same product or service that is produce by others in the market, it could adversely affect the success of the small business.
3. If a small business fails to respond to the needs of the customers, it would not go in favor of its success.