Start-up Failures - Gamblers Fall

Oct. 2, 2011 - PRLog -- Businesses fail, and the top reasons why business fail are (1) Poor cash-flow (2) Lack of planning (3) Overexpansion (4) Poor management. All these risks can be minimized and even avoided.
In the end it boils down to the willingness of business owners to obtain the knowledge and expertise from day one – before potential disaster strikes.
By utilising the expertise of individuals who have knowledge and skill on how to run a successful enterprise, many painful & costly pitfalls are avoided. It is astonishing that 50% of small business owners would gamble with their livelihood rather than seek expert advice. It is as dangerous as playing roulette with not only your assets, but the future of your family.
There have never been more resources available to start-ups to help them succeed. Government institutions have grant aid & offer low cost incubation space, business mentors are keen to offer expertise, and entrepreneurial competitions are everywhere, online investment platforms link investors to start-up projects. With all these aids, why are businesses still failing?
Could it be because information on these aids is hard to find? Government institutions provide complicated forms with no advice on how to complete them? Are the online platforms that focus on getting start-ups exposure, without the mentoring and much needed aids to blame? Or is it simply a lack of information? There are many aids available, but in our research leading up to the launch of Angel Holdings, what we found striking is the size of the magnifying glass we need to use when reading about these aids in the press. A good example is Taoseach Enda Kenney opening a new networking community (“Frathouse for geeks”) for technology entrepreneurs in Dublin in the Evening Herald (Friday 30 September). In their defence, they were the only publication reporting on this rather important event…