Challenges that small businesses have?

[eLdavis]

A lot of businesses especially in my country do not have the consistent security for them to make large value investments because there is always that fear.

Yes this is also a major issue for most small business especially does ones located around or within rough areas. There is always little to no security, so anyone can come around do take whatever they want.

 

[tyrim88]

Sometimes it's competition against higher successful competitors, when you are still new in a business and you are starting small it will be a challenge for you to meet up with your already established competitors

This ie very true at least ihave experienced this one in my business when we just started,you have to face the market and the issue of meeting up with price variation,and you cannot compete because of your volume of product.

 

[Solutionav]

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.

You are right, small business is always face with competition that is why you have to be very skillful when it comes rebranding and being able to win the heart of the people

 

[Shigobad20201]

The only two challenges I know that small business have nowadays is money to keep their business going and competion with big companies product, lack of capital to fund their business .

 

[Emmy]

Loan is the most challenge in small business. The interest is usually bigger than the profit made in the business. If a business man want to borrow money to run a business, he should take the one that doesn't have interest on it.

 

[eLdavis]

You are right, small business is always face with competition that is why you have to be very skillful when it comes rebranding and being able to win the heart of the people

Competition is a common factor for both big and small business alike, but I think the smaller business tend to get affected more, due to the fact that they have to manage resources as they do not have access to resources the way bigger business do.

 

[Bousine123]

The major challenge small businesses have in my country is competition. There are lots of small businesses owners running the same type of business, so sales are pretty low.

 

[Ralphjoe]

The only two challenges I know that small business have nowadays is money to keep their business going and competion with big companies product, lack of capital to fund their business .

It's very true that most small businesses faces the issue of getting the required capital to keep on running the business especially when they are experiences losses.

 

[Sotherefore]

Capital may not actually be a problem of smaller businesses because they do not need so much capital ,the problem of smaller business I think is that a smaller business may not be able to generate enough profit compared to a bigger business.

 

[Skysaint]

Many people actually do find it more convenient to go into small businesses due to its low startup capital and so it makes the market very competitive for them as many people are into the business especially if it's a lucrative one

 

[Senator]

Majority of small businesses have the usual challenges of the monopoly bigger businesses do exercise over them. The competition between the small businesses and other businesses can be very intimidating sometimes

 

[Toyoabasi]

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!

If small business owners narrate to you their challenges, you'll be surprised.
Getting customers amidst strong competitions is one challenge.
Getting good enough profit to feed, pay rent or even run the business is another challenge.
These days, even small businesses are being compelled to pay taxes.
When it comes to obtaining loans, they may not have the collateral, or be able to meet the huge demands.

 

[kayode10]

One of the problems that are facing small scale business in my country heavy competition from the big players. This big players are multinational companies with abundant resources.

 

[tyrim88]

Loan is the most challenge in small business. The interest is usually bigger than the profit made in the business. If a business man want to borrow money to run a business, he should take the one that doesn't have interest on it.

That has to be when the business uses loan to drive the operations of the business,Another thing is that some business does not have a good financial record keeping,and that will affect the business.

 

[Ellamma]

Small businesses have many challenges. Finding regular customers especially if there's are big businesses or firms around
Sometimes not having everything a customer wants
High government tasks
Meeting up with shop rent when it's due for payment. And many more. It's not always that easy to grow a small business

 

[Emmy]

The challenge that small businesses are facing in my country now is the increase in the price of goods day by day. Our currency is depreciating day by day and dollar is increasing. This has made people to purchase less items.

 

[tyrim88]

Small businesses have many challenges. Finding regular customers especially if there's are big businesses or firms around
Sometimes not having everything a customer wants
High government tasks
Meeting up with shop rent when it's due for payment. And many more. It's not always that easy to grow a small business

These are very good and valid points,because if a business do not know or have a strategic plan on how to aquire customers,then that business would not last,and also a good administrative management.

 

[kayode10]

Some small scale business in my country find it difficult to procure the necessary equipment to improve their production. This is due to the exchange rate of naira to dollar.

 

[Ezekiel]

Challenges of most small scale business are finances to put things in other, because of lack of finances they are unable to employ more hands to help improve the business

 

[Ralphjoe]

Challenges of most small scale business are finances to put things in other, because of lack of finances they are unable to employ more hands to help improve the business

You are definitely right to say that the biggest challenges most businesses face now is financial challenges and this has been exhibited by the coming of the coronavirus pandemic which has grounded several businesses in the world.