Definition, Meaning & Synonyms
lose-business
compound noun
/luːz ˈbɪznəs/
Definition
The term refers to a situation where a company or individual fails to retain customers or clients, leading to a decline in revenue or potential profit.
Examples
- The company began to lose business after its main competitor launched a new product.
- Effective marketing strategies can help prevent small businesses from losing business.
- After the economic downturn, many restaurants struggled to recover and lost significant business.
Meaning
To experience a decrease in business activity, often as a result of poor management, market factors, or competition.
Synonyms
- decline in sales
- revenue loss
- customer loss
- business downturn
