What to do if you are in danger of going bankrupt

When you start or are running a company, you hope that everything goes well forever. Unfortunately, the average lifespan of a company declined exponentially in recent decades and will continue to decline even more. On average, a company existed for about 35 years in the 1970s. Meanwhile, the lifespan has shortened to 20 years and is expected to drop to 15 years five years from now.

On average. This is mainly due to the exponential growth of technological innovation. The world is changing faster and faster, making it increasingly difficult to maintain a competitive advantage. But that, of course, is not the only reason why you can fail.