Financial Services - , ,
Myles & Psalmist ltd was conceived in 2010 as an answer to Why Businesses Fail however it was registered in July 2014 as a limited company so as to give structure for growth. Small businesses have forever been the heart of the Kenyan economy. Why is it then that so many of them fail when they are so vital? From the invention of new products, to the creation of jobs and higher personal income, small business are responsible for many positive aspects of our economy.They contribute to a positive national growth even though roughly 30% of new companies fail in three years and 50% in five. Research shows that there are ten common aspects that play a role in the demise of small business:Started for the wrong reasonsPoor ManagementInsufficient CapitalLocationLack of PlanningOver-expansionTheftRecessionCompetitionLack of Market SegmentationKnowing these factors can lead not only to keeping your business viable but can contribute to its success.Starting for the wrong reasonsMyles and psalmist will walk you through the lifecycle of your business from inception to ultimate expansion making sure every resource is maximized
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