Challenges that small businesses have?

[Miraclesam]

What challenges do small businesses have in your country? Could be finding people to work for them, or earning enough to cover a living wage. Tell us!

The challenge most little business face is the capital, the wages to settle it workers, the quality of the product and the skills of marketing.

 

[Abigael]

The following are challenges that small businesses face in my country:
1. High competition - there are so many small businesses here and most of them just do the same thing. So they end up not earning much.
2. Increase in taxes affect them so much as they will have to pay more yet they earn not so much.
3. During the pandemic, most small businesses had to close down because they are most vulnerable to spreading the virus.

 

[Oliver4smile]

What challenges do small businesses have in your country? Could be finding people to work for them, or earning enough to cover a living wage. Tell us!

The biggest challenge I know small businesses are facing is competition. Because the capital required to start a small business is not much, virtually anyone can start, this means small businesses are prone to high rate of competition.

 

[Kelly5]

Small businesses have this challenge of being noticed easily. The more so it is if the business is located in a less prominent site for it. It takes time to actually expand a small business to a big one

 

[Blessedsam60]

Here in Nigeria, small businesses faces hardship like getting loans or funding to boost up their business. Without these, things might be tough for them

 

[tyrim88]

Lack of effective marketing is one of the primary business issues that small firms confront. When you first start a business, you are not given a notebook with all of the A-Zs of marketing and marketing plan for your company.

This is actually a major challange most if not all busineses face,when a business owner do not really have a clear cut strategy on how to aquire customes,then it could lead to the fall of the business in a short time.

 

[Senator]

Small businesses usually do have the challenge of not getting sales sometimes when there are the presence of bigger businesses that overshadow the efforts of these small businesses to make sales

 

[Trexxxy]

I think one of the foremost problems that small businesses face is getting the right employees and also patronage. Also funds and capital to stay afloat seem to be a problem.

 

[Setho]

When it comes to my country the challenges that small businesses normally face is inconsistent government policies that normally drag the general economy down.

 

[tyrim88]

The following are challenges that small businesses face in my country:
1. High competition - there are so many small businesses here and most of them just do the same thing. So they end up not earning much.
2. Increase in taxes affect them so much as they will have to pay more yet they earn not so much.
3. During the pandemic, most small businesses had to close down because they are most vulnerable to spreading the virus.

The high rate of competition is a function of top norch services busineses offer to client,one need to step up his game in the market space to be able to remain relevant in the field of business.

 

[Ralphjoe]

Small businesses in my country hardly the light of the day, especially in the early stages before they vanish into the thin air. This is because the government policy doesn't favour them, there is no adequate loan grant for small businesses, they also have to compete with big international competitors, due to the fact that my country patronises foreign products and services against the local ones

In my country small businesses goes through the challenge of sourcing for electricity as electricity is not constant in my country so most of them go through the process of ensuring extra cost just to be able to maintain electricity for their businesses.

 

[Shigobad20201]

Thinking of going through a hard competition with big companies product is actually one of the challenges a small business is facing in the business world, and its not easy competing with them.

The high rate of competition is a function of top norch services busineses offer to client,one need to step up his game in the market space to be able to remain relevant in the field of business.

 

[Sotherefore]

If there is any challenges in smaller business it is either the business owners have failed their responsibilities by mismanaging the little business they have or they do not give the business attention .most smaller businesses do not have challenges.

 

[Ralphjoe]

Small businesses have this challenge of being noticed easily. The more so it is if the business is located in a less prominent site for it. It takes time to actually expand a small business to a big one

Almost 100% of all small businesses in the world faces financial problems because they are small because they do not have the financial resources to become big overnight just like other big businesses.

 

[Setho]

Small business is normally face the very big challenge of having to deal with inconsistent government policies because a small change can cause dial consequences for you.

 

[Ceeny007]

The problem most small businesses in my locality face is the issue of multiple taxation, and lack of patronage due to low income

 

[Dagm1]

Small companies constantly have actually the difficulty of certainly not viewing or even obtaining higher patronage for their company. This ought to be actually anticipated as it's not simply an incident to the small companies alone however all of kind of companies

 

[Snazzy001]

Earning enough to cover a living wage is the major challenge of small businesses in my country. The state of business is bad and they barely make money for themselves let alone pay for wages

 

[Blessingedidiong]

The challenges small business suffer is much. Among them are inadequate start up capital and very little profit. Along the line,most small business use the capital to settle some of the debts the got into in the cause of business and this runs down the business.

 

[tyrim88]

The problem most small businesses in my locality face is the issue of multiple taxation, and lack of patronage due to low income

One of the challanges of those small busineses as you pointed out,is the financial backbone to carryout a well structured and intense campaign to drive in customers that will increase sales,that is an issue for them.