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3. Poor planning: i. Poor choice of business location. ii. Inability to understand market changes and projections into the future. iii. Failure to understand effects of changing economic activities e.g. interest rates, pricing, distribution and currency fluctuations. iv. Failure to plan future needs, i.e. lack of budgets or forecasts. 4. Poor marketing reasons: i. Failure to stock the right products. ii. Failure to establish lasting relationships with the market i.e. cannot acquire "Loyal customers". iii. Poor advertising—or failure to do any promotion at all e.g. no directions to his business place. People are therefore unaware of his existence.
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