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The purpose of this article is to study for the situation of small and medium firm and firm's failure. The effect of the situation of small and medium firm is about 99.0% above.
The firm's failure are economic failure and financial failure. And, financial failure are technical insolvency and bankruptcy. The factor of the firm failure are inner factor and outer factor. The inner factors are no financial management, unreasonable investment, inferiority technical and production. The outer factors are excessive competition, loss of blood selling, depreciation of foreign exchange, a rising of material price. The effect of firm failure are inner factors is 50.4%, outer factors 49.6%.
The further study is empirical study small and medium firm in KOREA.