WHY MEN FAIL IN BUSINESS.

New Zealand Times, Volume XXX, Issue 6492, 11 April 1908, Page 5

WHY MEN FAIL IN BUSINESS.

SOME SURPRISING FIGURES. Why do men fail? Is it inexperience, incompetenoy, neglect or fraud? If you put this question to a. hundred men, ninety-nine will probably answer differently, or if they agree upon any one thing it will be incompetency, .inexperience and neglect. It all depends upon the man and his own experience. The banker will talk of speculation and extravagance, the conservative mcrcuaiu of fraud and rascality in business methods, and so on. As a matter of fact, such statements are little more than reckless assertions, based upon inadequate understanding of facte.

If wo tako trustworthy statistics we can reach a much clearer comprehension of the important question. Classifying the causes of failures we hare the following approximately correct reasons why men tail in business

An examination of thee© figures immediately shatters many of our preconceived notions about failures. Few would question the high percentage of failures duo to incompetency, but the first item on the list furnishes food for thought. Lack of sufficient capita! le responsible for nearly one-third the total failures, md yet it is a cause not assigned by one business man cut of ten approached. The figures are reassuring, however. md give new faith in humanity. We were inclined to believe that speculation and extravagance of living were leading factors in the failures of firms and individuals ; but they are placed, at the end of the list, and do not greatly affect the groat business community es a whole. Competition likewise does not make business life and success half so uncertain and hazardous the average person has been led to believe. , ,W. T.

Per Cent Lack of capital 31.5 Incompetency 25.5 Specific or local -causes 15.5 Fraud _ 10.5 Inexperience 4.1 Unwise credits 3.2 Neglect 3.7 Failures of others ... 2.1 Competition 1.4 Extravagance 1.3 Speculation. 1.2