The field of entrepreneurship leaves behind a landscape littered with the remnants of entrepreneurial dreams. Failure rates of new small businesses especially in Southern Africa is upward of 80%. It is imperative that we delve into the drivers of these failures to avoid repetition of the same mistakes.
Common reasons include:
1. Access to funding
2. Inadequate business skills
3. absence of digital tools and techniques
4. Fierce competition
Therefore, before taking a chance at business, entrepreneurs must equip themselves with the skills, mindset, and discipline needed to survive and thrive in the harsh business world.
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