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The venture of starting a new business is usually exciting and stressing to the entrepreneurs. It is a gamble or a risk undertaken in the hope of attaining profitability and growth where success is not always guaranteed. However, most businesses, tend to fail months or any year after initializing operations. According to a survey conducted on new companies in America, most of the businesses collapse shortly after starting. Many reasons contribute to the fall of new companies. However, there are effective strategies which might be adopted to ensure that new entities prosper.

Reasons for The Failure of New Businesses

Primarily, the main reason for the fall of…