Statistic has it that 80% of businesses crash and burn within the first 18 months of starting up. What exactly is the cause of this whopping crash?
On this episode of Analyse This, Honey Ogundeyi and Tunji Andrews discuss business failure, and talk about different ways budding entrepreneurs can avoid making mistakes in business.
In Nigeria, most entrepreneurs blame a failed businesses to government policies, ‘village people,’ without paying attention to the real deal – the basics of a starting and growing a successful business.
Inefficient feasibility analysis, lack of succession planning, market and business plan, failure to move with the trend, lack of financial skills and planning, etc., are some of the factors that can bring down a good business idea.
Do you think the government is to blame for failed business that are affected by unhealthy policies or are entrepreneurs to blame? Nigerians on the street share there opinions on this issue.
Watch this interesting Episode of Analyse This and join in the conversation.