The company has been around for almost 30 years with very low and slow growth.
The owner of the company is very distant from everyone else. He only work and listen to the appointed CEO.
The CEO is typically out of touch with the business and everyone else. Having only a developer background, he lacks the experience and skill to grow the business he doesn't feel safe hiring people that trying to do so.
The software development method is out of date and the product is very buggy which result in many customer complaints.
The long time employees are very political and trying hard to block new people to contribute. The overall environment has low level of trust