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

[Setho]

When wanting to start a small business your actually big fear is the dear that it may not scale and you end up loosing a lot of money. You should always be sure of making sufficient research and setting the right things in place before setting a business of your own.

 

[Victor001]

Foremost you need to gather inspiration from similar business setups, don't expect too much,try to live within your means. Share problems encountered.

 

[Sariana23]

As far as you want the small scale business to boost and become a medium to large scale one, then you need to strengthen the foundation, make good survey and research of the products you wish to sell and make sure they are highly in demand among people, get a good accessible location for your business, your business plan should outline your budgets, projected profits. Do make sure that you put in effective management and do not spend beyond your limit.

Very good advice @tuna89 , you have said the most important thing to start a successful business and somehow avoid stumbling over the obstacles that are usually found on the road to success. What I might add is that you must have excellent financial management, you must not waste your profits, you must reinvest or failing that save for the future of your business.

 

[Kingsley]

With the rate of inflation in my Nigeria, small businesses are really facing alot of challenges, is not easy to start a small business and grow it successfully, but in any case one can also access loans from other sources.

 

[MercySmith]

I agree with you. Fear of failing has to be completely removed when starting a business. The fear should be channel to strategy that will make the business succeed

 

[Patrik]

i would say competition, because small businesses are easier to create, which means, everyone can start them and compete with you in them and even win you if he's smarter enough

 

[Setfragil]

There are many hurdles one will have to scale through before starting a small business. You will start with the hurdle of startup capital, hurdle of space for the business, the business location and dealing with competitors in the same line of business.

 

[DareIsrael]

Competing with big scale business. This is a serious challenge for small scale business as customer like to go to a bigger scale business than a smaller one.

 

[Ayokex]

The first hurdle you need to cross in starting a small business is to first overcome your fear and create a good attitude towards it. You're the one who decided you wanted to do business in the first place so gibe your best to it.

 

[Setho]

Your biggest worry about starting a small scale business should be about how to actually scale it and you taking the best available decision. You should also man sure to register the business with the agency concerned.

 

[Bookwormlux1]

You should be able to conquer fear and timidity. Bear in mind that all large businesses that you are seeing started small, so do not get intimidated at all.

 

[Sincerem]

Yes, we shouldn't be intimidated nor feel ashamed that our business is just a small business. We ought yo know that, those who mock us today, will come to be surprised seeing us become successful through business.

 

[akinlolu99]

Beginning a business interestingly can be an enormous test for some individuals. Prior to beginning any business, fears of if the business will succeed and question about our capacities to begin the business emerge.

How would we be able to deal with make it simpler for us when beginning another business?

 

[Heatman]

No matter how you look at it it's never easy to start up any new kind of business because each of them comes with different challenges that you will definitely have to battle head-to-head before you can succeed.

 

[Sincerem]

Business is marred with challenges and risk. If we are ready to take the bow, surely we'll achieve success. Cos business success can't be achieved without accepting the risk involve in it.

 

[Heatman]

There is no kind of me since that doesn't come with sort of challenges that next business to face a hard time once in a while which is why it's very important that you have a plan set up to run the business

 

[Sincerem]

Facing hard time in business initiative isn't a new thing, their us always time for that. But when you're determined to carry on, those challenges won't be a burden again.

 

[akinlolu99]

Beginning a business interestingly can be a tremendous test for some individuals. Prior to beginning any business, fears of if the business will succeed and question about our abilities to begin the business emerge. How would we be able to deal with make it simpler for us when beginning another business?
When beginning another business, you should be certain that you are making a major stride, for that you more likely than not assessed the climate, the perfect place and have great quality items. Give the best treatment to the customer so they get back to the business and suggest it, aside from that you should know about the organizations around you, their costs and attempt to be satisfactory or improve them.

 

[Setfragil]

I agree with you. Fear of failing has to be completely removed when starting a business. The fear should be channel to strategy that will make the business succeed

You are correct. There are so many hurdles to cross when starting a business but the first hurdle is how to raise capital for to fund the business and how to run the business successfully to avoid failure.

 

[Abigael]

Starting a business can be really hard. One of the hardles faced is the unavailable of customers to patronize you. This can be dealt with by first conducting surveys before starting the business. Hence you will know if the business is marketable and who your potential customers are.