... business failing. Therefore there is a difference between 'failing' and 'going out of business'. The second statistic above can be used when considering failure in a small business as is needed in the topical statement of this essay. Many people assume that the main purpose of a small business can only be achieved if the company still trades and is not terminated. That is the same as saying that a business closing or one which cannot continue to exist has failed. Failure cannot be described like this as sometimes businesses are terminated but they are still deemed successful by their owners. An example of this is when a businessman sells his business. After it is sold the new owner may close it down and use it solely for the reason that it had factories which could be useful to the new owners other business. In this case the closure of the ...

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