What is the primary reason that so many new businesses fail?

Question

Quizplus · Accepted Answer

Mismanagement resulting from lack of business know-how is the primary reason why many new businesses fail. Without proper knowledge and skills in running a business, the owner may make poor decisions that can lead to financial losses and eventually cause the business to close. Working hard, having low employee quality, lack of brand-name recognition, and inability to compete with well-established brand names may also contribute to a business's failure, but they are not the primary reason.

What Is the Primary Reason That So Many New Businesses