5 entrepreneurs share reasons behind failure of their startups

The entrepreneur started it in 2012 to provide local services to the common man. After initial progress, the owner had to shut shop due to: Lack of team; no funds to hire people and scale up, lack of technology, burning money too much

The owner stated initially the business did fairly well but failed due to more expenses than sales.

The founder said due to lack of market research, unable to identify the target audience led to failure of the startup.

One entrepreneur who did not name the startup said his startup failed because: unable to execute plans into actions, terrible employees, could not identify goals, no direction.