Challenges that small businesses have?

[Felixko]

Starting a business is a significant achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many common challenges every business faces, whether they are large or small. These include hiring the right people, building a brand, developing a customer base, and so on.

 

[btaliat]

There are many stiff competition against small business. And the funniest thing is that they are not always open to bank loan. Most of the government policies are not always on favour of the small business.

 

[Syldan]

Sometimes the challenges faced in small scale business are even similar to those of the big business. The issue of income and expenditure. Some times a business may not be able to meet up to it needs because the expenditure is more or higher than the income.

 

[Alexandoy]

The main challenge of a small business is in facing the competition in a big field. I am talking about the big competitors that would do anything to kill a small business. That happens here in the food business. For many years Pizza Hut is still continuing their buy-1-take-1 promo of family size pizza. The competition could not fight it.

 

[Kaffyfolla]

Common Challenges Small Businesses face

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

 

[kayode10]

After difficulty in raising business capital the issue of exchange rate is another problem faced by the new business owners especially when they found their self in in developing countries. It can be very hard to procure necessary mercenaries in a country where the exchange rate is pretty much high.

 

[Smiles20]

A lot of businesses are usually having the problem with having to deal with competition. This is even more difficult because some of this competition are people who are having more money to counteract their ideas.

 

[greenie]

Small businesses always have the challenge of not seeing or getting high patronage for their business. This should be expected as it is not just an occurrence to the small businesses alone but all type of businesses

 

[Laurentta]

The most important thing is that location matters the most if your business is been sited in a wrong location then dont expect such business to be moving its going to encounter low patronage.so small business faces this all the time and I will advice those small business operator to always resist competition from the big once

You are right. Before owning a business, one has to make sure he or she has a good location for that business. Location really matters alot in a business.

 

[Sincerem]

A lot of smaller business always have difficulties most especially to grow it to the advanced standard needed by the business owner. What we have to understand is that most smaller business are always stagnant when there is no external source of income for the business to grow.

 

[Shigobad20201]

I am running a small business because I dont have enough to boost my business and the second challenges I have as a small business is challenges and competition from big companies producing the same product.

 

[tyrim88]

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.

One of the thing that makes these things to be possible by pushing inflation rate high is the lack of investors coming in to the country,and then the debt that the government has incure over time.

 

[Shigobad20201]

You are right. Before owning a business, one has to make sure he or she has a good location for that business. Location really matters alot in a business.

I have seen most small busuness doing well and thriving more better than most of the big business because they are doing their business in the right location ,,so location does matter .

 

[Potuse]

The major challenges that the small businesses in my country are facing including mine is capital . In most cases, the capital that you have are not even enough to run the business very smoothly.

 

[Immilash1]

Small business has many challenges, while starting a small business you'll find it really hard to grow it, that's one of the challenges that a small business has.

 

[Shigobad20201]

The most dangerous challenge which a small business have in the line of business is competing with big business which can ruin the small business down if care is not taken .

 

[Immilash1]

The most dangerous challenge which a small business have in the line of business is competing with big business which can ruin the small business down if care is not taken .

You are right, and also if you don't have a business plan you will suffer alot, this might also ruin your business, just like the saying if you failed to plan you have planned to failed.

 

[GIFTMICHAEL]

Most of the time , many people do not trust smaller business . One of the greatest challenges most smaller business are likely to face is that larger business organisation of the same niche may likely prevent them from making progress.

 

[Immilash1]

Most of the time , many people do not trust smaller business . One of the greatest challenges most smaller business are likely to face is that larger business organisation of the same niche may likely prevent them from making progress.

That's true, and if you don't plan your business you'll definitely face a lot of challenges, not having a plan is the biggest mistake you will ever make.

 

[Sotherefore]

Most times as long as the location of the business is suitable , there is likely not going to be any challenge faced by small business owner , provided every plans and preparation has been put in place.