Business Issues
Business Characteristics
In the UK, nearly half of all small businesses fail in the first year. 80% are gone after five years. Less than 10% of all UK companies survive for more than 50 years.
The average lifespan of all companies is 10 years.
Why Do Businesses Fail?
The key reasons why businesses fail are:
- Lack of direction
- Inability to deliver
- Lack of funds
- Management "doing"’ not "managing"
Characteristics of successful businesses:
- Have a clear strategy and vision.
- Know when and how to exit their business.
- Organise their business around systems, not people.
- Know their market position or niche.
- Have and efficient “sales machine”.
- Plan their finances.
- “Manage” rather than “Do”.
Some Typical Business Problems:
As a business leader, you may encounter one of these typical problems:
- "I've run out of cash and need new finance."
- "The Tax Man is hounding me for payment."
- "My bank has asked for a business plan and cash forecast."
- "My customers are taking too long to pay."
- "I've no-one to talk to about my business problems."
- "I need to reduce my overheads."
- "I'm losing customers."
- "I'm working all the hours God sent"
- "I've got this great idea and need help to get it off the ground."
- "I want to retire - I want to sell - I want to acquire another business."
TM Business Solutions can help your business to overcome these problems.
TMBS Can Help
- We have been where you are and faced these problems.
- We know how to raise money even in a recession.
- We work with you to help set your objectives.
- We stay with you to make sure you achieve your objectives.
- We network with other specialists to ensure we provide a solution to any problem.