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High employee turnover Unserviced equipment Falling stocks Note all businesses that go out of business actually fail, some just stop operating mostly for such reasons as retirement or death of the owner. What Makes A Business Succeed (a) Good management on part of the owners. This goes along with total commitment and willingness to work long and odd hours. (b) Good leadership which means responsibility, honesty and willingness to work with others. 269 July 2015 (c) In case of partnerships, partners should have good interpersonal relationships, i.e. they should be able to get along and to agree over decision making.
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