At least one-third of all businesses are prone to fail within the second year of establishment if the right growth factors aren’t in place. That’s according to director of Sisters Ink Ja Opal Levy.

Speaking on #MoneyMovesJa with Kaliah Reynolds, Levy noted that low sales and a lack of understanding towards customers are among the many contributors for businesses failing. She said more often than not, businesses fail to plan and sometimes try to solve a problem that didn’t even exist.

 

She said it’s important for entrepreneurs to talk to potential customers from the onset of the business idea. She said reading will also be critical in this changing environment, to ensure the business will be positioned to the right people in the right time and space.

https://www.jamaicaobserver.com/business-report/several-ways-to-help-turn-around-a-failing-business_235419?profile=1056