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  • Why Companies Go Burst

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    Ranjit Roy
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    Companies go burst for several reasons including a lack of experience, overtrading, poor management, and not having proper accounting systems. Other factors are unplanned expansion, mismanaging stock, forgetting the need to recover costs, investing too much capital in fixed assets, taking too much money out of the business for personal use, staff problems, not producing regular reports, depending on a single customer, not paying government dues, and ignoring rules and regulations. Lack of priorities is also cited as a reason.

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    Companies go burst for several reasons including a lack of experience, overtrading, poor management, and not having proper accounting systems. Other factors are unplanned expansion, mismanaging stock, forgetting the need to recover costs, investing too much capital in fixed assets, taking too much money out of the business for personal use, staff problems, not producing regular reports, depending on a single customer, not paying government dues, and ignoring rules and regulations. Lack of priorities is also cited as a reason.

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    12 views1 page

    Why Companies Go Burst

    Uploaded by

    Ranjit Roy
    Companies go burst for several reasons including a lack of experience, overtrading, poor management, and not having proper accounting systems. Other factors are unplanned expansion, mismanaging stock, forgetting the need to recover costs, investing too much capital in fixed assets, taking too much money out of the business for personal use, staff problems, not producing regular reports, depending on a single customer, not paying government dues, and ignoring rules and regulations. Lack of priorities is also cited as a reason.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    WHY COMPANIES GO BURST

    1. LAKE OF EXPERIENCE 2. OVER TRADING 3. POOR MANAGEMENT 4. LACK OF ACCOUNTING SYSTEM 5. UN-PLANNED EXPANSION 6. STOCK MISMANAGEMENT 7. FORGETTING RECOVERING 8. TOO MUCH CAPITAL GOING INTO FIXED ASSETS 9. TAKING TOO MUCH OUT OF BUSINESS YOURSELF 10.STAFF PROBLEMS 11.MISSING REGULAR REPORT 12. DEPENDING ON ONE CUSTOMER. 13.NOT OFFERING FUNDS FOR GOVERNMENT DUES 14.IGNORING GOVERNMENT RULES AND REGULATIONS 15.LACK OF PRIORITIES

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