Here are ten key reasons for business failure:

• Inferior strategy or business model- Are you pushing water uphill?

• Weak leadership and management- Could you or your top team be the problem?

• Lack of forward business planning- To get to your destination, you normally need a map!

• Insufficient demand for goods or services- Are your products or services fit for purpose? Are your sales team letting you down?

• Difficult or unprofitable customers- Low margins create losses. Bad debts can be fatal.

• Unreliable or uncompetitive suppliers- The best way to hand business to your competition.

• Unnecessary or badly managed staff- What do you need to get the job done?

• High fixed overheads- Sales are down, but those costs keep on rolling.

• Poor risk management- Watch out for that incoming missile!

And last but not least….

• Cashflow problems - talk to your customers and suppliers and offer incentives of paying early.