From his own experience (including some business failures), the top 10 reasons why small businesses fail are:
As you can see, Jay’s list does not include any of the usually suspects (eg the government, bankers or business partners) which may come in at numbers 11, 12 and 13. Moreover and at the end of his article, Jay said, “In life, you may have forgiving friends and relatives, but entrepreneurship is rarely forgiving. Eventually, everything shows up in the soup. If people don't like the soup, employees stop working for you, and customers stop doing business with you. And that is why businesses fail.”
If you're just starting up, need to get more from your IT, or want a tighter grip on your data browse, you'll find advice and resources on Microsoft's new small business website.
I also think one of the other reasons for a fail in business is due to friendliness. Most people buy from people and these skills help with growing a company and are important to customer retention. It's like walking into you favourite coffee shop and a new member of staff says "what do you want!!" where as all the times before you had a nice warm welcome. Makes you think twice about going back.