What Do You Think Causes So Many Small Businesses to Fail?

Small business owners, I came across some stats showing that around 20% of small businesses fail within the first year and nearly half don’t make it past five years. Only about 10-20% manage to scale successfully. Why do you think so many businesses struggle to survive? And for those whose businesses aren’t performing well, what strategies have you found effective to scale up?

Would love to hear your thoughts and experiences!