The Optimistic driven force behind the desire to start or commence a new business is the desire to be one's own boss and to be independent.
There is the need to keep in mind that when you have the desire to be an entrepreneur, you make very sure that the business you are going to do is a good one and you are ready to venture in to problems that accompany the joy of bein your own boss.
This is because one needs to start his/her own business, experience is filled with hardwor,anxiety,frustration and enthusiasm.
Operating a business whether an enterprise or huge organisation is the best way to help and also contributes towards the Global Economic order.
The success of new business depends largely on the owner:The personnel goals and aims at what he/she want to achieve in the future.And think about self-employment as a career whether you must remain an employee for some one or be your own boss.
These are some of the Perstimisitic factors contributing to Business Failures;
1.Lack of essential financial records
2.Poor Patronage due to poor advertising.
3.inadequate capital(funding)
4.Liability of some enterpreneurs to keep separate accounts for the business and personal use is one reason for business failures.
5. Some enterpreneurs lack adequate knowledge of ht business venture they persue.
Measures to sustain BusinessKeep proper account at all times and try to plough back profits and also separate business from family income.Apply higher skills and Management in the Business to ensure good human relations and better social climate among the stake holders in the business.
Be focus with changing trends in business innovations,New products and Technological advancement. including good behaviour and good business relationship to maintain your customer or clients through quick suppliers,regular contacts and respect.
Avoid been victimized and exercise circumspection thus being less trusting.
Thank you for the Splendid Time.