| Percentage of business failures that are caused by ... Incompetence | 46 |
|---|---|
| Unbalanced Experience or Lack of Managerial Experience | 30 |
| Lack of Experience in Line of Goods or Services | 11 |
| Neglect, Fraud, Disaster | 1 |
| Other | 12 |
Sources:
statisticbrain.com
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The majority of businesses fail within the first four years of their creation, but what is the reason why? Incompetence is the primary cause, accounting for nearly 50 percent of all business failures.