The First Reason Why Small Businesses Fail

The data on the survival rate of businesses showed that 22% of small businesses fail within the first year, 32% for the first two years, and 40% for the first three years of business.

But why?

The lack of funding or capital is usually the main reason why small businesses fail because the operating expenses are costly from payroll to supplies to rent and more.

Moreover, many don't understand how to price products to create profit, and more often than not is that they don't pay attention to their cash flows.