Challenges that small businesses have?

[Skysaint]

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.

You're right about that. I also do have the same idea, small businesses do face challenges from their superior or let's say their strong and established competitors with abundant resources just like you've pointed out

 

[Kaffyfolla]

These are common challenges face small business set up

• Access to Financing.
• Little business knowledge.
• Government Regulations and Policies.
• Visibility and Marketing.
• Inadequate Public Infrastructure.
• Finding the right staff.

 

[Shigobad20201]

These are common challenges face small business set up

• Access to Financing.
• Little business knowledge.
• Government Regulations and Policies.
• Visibility and Marketing.
• Inadequate Public Infrastructure.
• Finding the right staff.

The first challenges facing a small business is the inability of getting access to finance like loan or the fund to support the business proper, and also government tax are also affecting small business .

 

[Godspower]

Most small businesses struggle as a result of little or no capital to run or sustain the business. Competitions from rival firms or companies can equally affect the growth of small business.

 

[Immilash1]

Small businesses often suffer the most. They don't get enough profits to take care of there needs. If you are running a small business you won't spend any amount.

 

[Kvngsammy]

One of the biggest challenges that I've seen small businesses have in my locality is the fact that they don't always have access or will I say the required financial and technical know how to expand their businesses. If they're well equipped with business education, they'll do better.

 

[eLdavis]

One of the biggest challenges that I've seen small businesses have in my locality is the fact that they don't always have access or will I say the required financial and technical know how to expand their businesses. If they're well equipped with business education, they'll do better.

In my location, most of the small business owners suffering from what you have mentioned are the uneducated ones, what do you think can be done to actually educate these ones or a from of awareness?

 

[kinqzbitz]

Small businesses are prone to so many problems just like financial problems and inability to get the desired income at the end of the day, mostly it is big businesses that make it

 

[AirDima]

Most of the challenges that small businesses face is marketing strategies, when u can't situate your product to a wider customers...your business tends to face some challenges.

 

[Good-Person]

A lot of small businesses in my country so far from inconsistent government policies that are always making the value of the naira to dollar to be fluctuating .

As far as I know, the situation of small businesses in many Tier 3 countries is quite poor due to a lack of proper infrastructure and a lack of funds that are required. I think a lack of resources can also be stated as of one the factors responsible for that,.

 

[ganibade]

Challenges that small business has is financial problem. With these locations and employment of staffs will possible and easy.

 

[Good-Person]

Since the rate of inflation is raising every month, most small businesses in my country are having a hard time with product cost and buying products to maintain stock due to product shortage. Small businessmen have always had this problem during the time of inflation.

 

[Sotherefore]

One of the reasons I am always afraid of small business is that most smaller business that is available here are always stagnant ,and there is no improvement, I have never seen a small business that have grown to a super business before.

 

[YERUS]

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!

Most small businesses do not experience that high turnover they always expect at the beginning of a business.
Some also encounter problems when it comes to obtaining loans; they may not be able to meet bank requirements.

 

[Ghost1]

Small business suffer a lot in my country because the profit they make cannot take care of there daily need and if the location where the business is located is lonely you might end up not selling anything

Exactly. The greatest problem a small scale business has is the profit. It is always not enough to live a comfortable live especially now in this hard times

 

[Elfinito]

In my location, small business suffers more of government taxes and making more profit.
You see some business being unable to make enough profit to pay it employees in a month but still, they have to pay the government taxes
This sometimes incures a lot of losses for them

 

[Ghost1]

The challenges that small business face is that you cannot be able to be getting higher profit from the business, this is what you can expect in the business.

This is very true. You may work as hard as or even more than anyone but the profit would still remain minute. Small businesses only yield small profits

 

[Good-Person]

Well, one of the biggest challenge small businesses is having is inflation. Inflation rate is ruining the country. Big businesses can usually survive, but small businesses suffer because they do not gain much when the inflation rises.

 

[Robust]

Small scale businesses suffers some many challenges in my country, through taxation, location, structure of the business and others.

 

[Stnicholaz]

One of the major challenges a small business is facing is the taxation problem. The government in here is charging heavy taxes when it comes to small businesses and this is quite unfair for the government to do. The government should provide some relief to small businessmen and traders.

You are right. My my area many small business owners had to protest against multiple taxation from different tiers of government. The profits they are making is not even enough and the multiple taxation is not helping matters at all.