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Why Is It That Some Small Businesses Fail?
Member rating: No Rating | Words: | Submitted: Tue Jun 20 2006
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WHY IS IT THAT SOME SMALL BUSINESSES FAIL? One topic of perennial interest to small business managers is why some small businesses go under. The knowledge of why many small businesses have failed can be helpful in seeing that it will not happen to your investment. It is hard to measure the size of a business. According to The Department of Trade and Industry (DTI), an SME can be described as a business that employs between 0-49 people. However a company such as a Chemical Plant may employ less than 49 people but have a turnover of £20 million. So according to the number of employees, the DTI would class it as a small business. However, according to the level of turnover it could be classed as a large business. The size of the firm is generally measured by the amount employed1. The amount of SME's is forever increasing. There are many reasons...
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