Published by Gbaf News
Posted on September 28, 2018
4 min readLast updated: January 21, 2026

Published by Gbaf News
Posted on September 28, 2018
4 min readLast updated: January 21, 2026

Fifty percent of the small-scale businesses fail within the first five years of their journey. This statistic gives a clear notion of the perilous nature of small businesses.
The entrepreneur needs to develop the product idea and services that the business going to market, acquire talents, create marketing strategies, customer management and take care of finances as well. In short, he needs to take care of conception to running the show and thus making mistakes is common.
Here are the ten most common mistakes of small businesses.
According to Business Insider, forty-two percent of the businesses fail due to lack of planning their products according to the market trend. Due to cash flow problems, more than 82% of the small businesses fail while twenty-three percent fail due to inefficient team. These figures emphasize the need to avoid the above mentioned mistakes to run a successful business.
[1] https://www.forbes.com/sites/dorieclark/2013/12/17/the-top-mistakes-small-businesses-make-and-how-to-avoid-them/#3e69021130e4
[2] https://www.businessinsider.com/why-small-businesses-fail-infographic-2017-8?IR=T
[3] https://www.thebalancesmb.com/small-business-startup-mistakes-2951860
[4] https://www.hiscox.co.uk/business-blog/biggest-mistakes-small-business-owners-make-avoid/
[5] https://www.fundera.com/blog/what-percentage-of-small-businesses-fail
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