Bad financial planning blamed for business failures

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A new study by the Washington, D.C.-based Inter-American Development Bank (IDB) says bad financial planning is responsible for failure of creative entrepreneurships in Latin America and the Caribbean.

The IDB said on Thursday that about 70 percent of creative entrepreneurships fail because of bad financial planning, lack of understanding of the market and poor cash flow.

The e-book study, “Launching an Orange Future,” released by IDB in collaboration with the Failure Institute, reveals that even though 90.4 percent of creative entrepreneurs completed a university degree, they learned to do business “on the go”.

The e-book collects information from more than 200 creative entrepreneurs in the region and publishes the…

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