What are the hurdles one needs to cross when starting a small scale business?

[chicnthin]

Starting a business alone is a challenge itself. A constant feeling of fear whether the business will succeed or fail is a hurdle as well because it means you have doubts. So it's important to have a right mindset, put trust in yourself and your business and the rest will follow. Make sure your business will be known by the public and attract customers, ability to give what the customer needs, and there's enough capital.

 

[Heatman]

Starting a business for the first time can be a huge challenge for many people. Before starting any business, fears of whether the business will succeed or not and doubt about our capabilities to start the business arise.
What can we do to make it easier for us when starting a new business?

Most small business owners end up not surviving in the business for the reason of being in too much haste to make all inquiries about the business before they venture into it. You must know the SWOT of the business otherwise you won't succeed in it.

 

[Khezo]

1. Location
2. Competition
3. Capital

 

[alberello75]

I've always been told: "When you don't know, you ask!".
Well, there is a lot of things to know when starting a business for the first time, with the question everyone would have: Will it work or not?
Many factors to consider, important to know what to do with this business, such as: sales, consulting, service, repairs, etc.
I, who am layman in all this, should ask for information from many experts in the sector. First of all, I should see how much and what I initially have available.
You see, the future is always an uncertainty for everything!

 

[Josemendez]

Starting a business for the first time can be a huge challenge for many people. Before starting any business, fears of whether the business will succeed or not and doubt about our capabilities to start the business arise.
What can we do to make it easier for us when starting a new business?

If one wants to start a new business , then he should be ready to first ,draw a feasibility plan to see if the small business can actually work.
He needs also to work more if there are existing competitors in the business.

 

[joy101]

When starting a new business you must put everything in order and plan on how to start the business, every business require commitment and diligence, a small scale business require small capital to startup the business,

 

[Nicklas22]

Step 1: Enable your channel for monetization. Step 2: Connect your YouTube channel to an AdSense account in order to earn money and get paid for your monetized videos. Step 3: Take a minute to get to know the kinds of videos you can monetize and the different ad formats.

 

[Eamodu]

Starting a business for the first time can be a huge challenge for many people. Before starting any business, fears of whether the business will succeed or not and doubt about our capabilities to start the business arise.
What can we do to make it easier for us when starting a new business?

Well you will need take a decision on which business you will like to go into. Then you do a feasibility study of the business, to know the cost implications of going into such a business.through the feasibility study you can know the capital you need,risk involved in the business, profit margins,where to get your goods cheaper.etc

 

[Adventurer]

Starting a business for the first time can be a huge challenge for many people. Before starting any business, fears of whether the business will succeed or not and doubt about our capabilities to start the business arise.
What can we do to make it easier for us when starting a new business?

You're right it can be a huge challenge, for me I feel; 1. You must be financially sufficient, so that you don't mismanage your capital and even proceeds.2. you'll need moral support from your loved ones who can encourage you when things may not look so good, 3. Try to take courses on business even free courses are available

 

[tuna89]

You need to understand that you have bigger competitors so with respect to that, you have to make sure that the products you sell are things that have a high patronage do make sure to spend within your limit and follow your business plan that's your resources and budget you can always take your business online for better sales and you have to monitor your business very well since it is a small business.

 

[Pirate]

No matter how small a business seems to be, starting a business is a really huge step into financial stability but there are a few challenges that come with it, there's problem of competition, that's why it's good to survey the market and look for loopholes that could be used as a stepping stone.
Also, there's the issue of making a name for yourself, as a small scale business customers might not have too much attention as there are other prolific successful businesses so being innovative and creative can help to surmount such challenges.

 

[EMMANUEL]

Choosing a business legal structure
Of all the business decisions you’ll make as an owner, selecting a legal structure may be one of the most important. It can affect how much you pay in taxes and also your personal liability in the event of a lawsuit, according to the Internal Revenue Service.
The goal is to decide on an ownership structure that best suits your business. This generally depends on what type of business you run, your personal financial situation, investment goals, the cost to establish the structure and the paperwork required.
Sole proprietorship: This is when you own and run an unincorporated business by yourself and do not set up a legal entity. You have total control of the business and receive all of its profits, but you’ll also be responsible for all of its taxes and liabilities

 

[Sammyesx]

For a beginner, it is normal to be skeptical, that is why it is advisable to go into a business you have a sound knowledge about, because that will give you a little bit of assurance, and have a very good business plan, it give you confidence.

 

[Samuel77]

According to my own point of view, when starting a business the best thing to do to make our business easy for us when starting is to, first get a good capital second we will have to check the environment if costumers will patronizing you. You see, environment matter alot when starting a business. Not all business are good in all environment

 

[Farrukh Riaz]

Starting a business for the first time can be a huge challenge for many people. Before starting any business, fears of whether the business will succeed or not and doubt about our capabilities to start the business arise.
What can we do to make it easier for us when starting a new business?

The first few months after starting a business are very difficult. During these months you have to advertise your business in English as well as attract customers. You have to sell things at a lower price than the rest of the market. If we succeed in doing this, our business will be able to expand easily.

 

[Gilead]

To be realistic, those steps are not that much.. though it depends on the kind of business but in starting up a small scale business, in my opinion I feel getting your capital either through savings or other means is just the most pressing need actually.

 

[adazeez1995]

Another reason why a small business migut fail is due to inappropriate planning and execution. Some people get a "fantastic idea" and they rush into production without any planning whatsoever. Without understanding their landscape, without consideration of wether someone else in their chosen location is also into similar products. There just seem to be a lot of people very close to each other,selling thesame products .

 

[Blue house]

Taxes ; At the point when your independent company is locally established, home office derivations are imperative for keeping benefits high. Notwithstanding, guidelines concerning record keeping are time-exorbitant and, in the event that you don't have an inclination for accounting (liable), disappointing.

 

[Rainlover207]

Starting any business has it's own hurdles, but since it's a small business the courage to start it is the first hurdle.

Other hurdles includes, getting of clients, discouragement due to size of the business.

 

[eenya001]

The most frustrating thing for a small scale business at first or when they are just starting out the business is to be accepted by the existing customer base, basically breaking into the market to stand out is pretty much hard at first because of the many competitor's.