The Reasons Businesses Fail

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One of the big advantages CPAs have working with small business owners is that we get to learn what makes them profitable and what makes them fail—without losing any of our own funds.
Not only that, but we are also business owners. We face many of the same opportunities and challenges that other small business owners face.

So what have I learned? Well for starters, launching a small business is risky, and the chances of building a successful business are small. According to the Small Business Administration (SBA), over 50% of small businesses fail in the first year and 95% are out of business in the first five years. Of the ones that survive past five years, less than 1% reach a level that allows the business to survive the retirement or death of the founder.

This is a statistic that many of us have run across before. But very few of the articles that quote these statistics actually go into detail as to why they fail. In this video I outline the top 25 reasons I have seen or small business failure. Be sure to watch tomorrow's video where I will reveal the number one reason that small business owners succeed.


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Be sure to check out my blog, “Small Business Profit Maximizer!” Where I share these videos and other ideas you can use to make this your most profitable year ever!  Click to go to the blog page. .


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Thanks so much and let’s make this our most profitable year ever!