Challenges associated with starting a business in the year 2023?

[Heatman]

As for me in my country, a person Starting a business this year may face higher prices of goods therefore they must pull up their socks by providing a higher amount of capital for the business start up.

This is also what happens with inflation that is happening in my country now because everything is too costly for those that want to start their business.

 

[Niyi Briggs]

The major challenge associated with starting a business in this times ks the high rate of inflation world over. The cost of starting any business is triple what it was 3 years ago.

 

[Reedex]

It is true that 2023 is a great year for upliftment if we are able to face there challenge and delve into proper business.

 

[Niyi Briggs]

The major challenge with starting a business this year is the high rate of global inflation. It has raised the cost of inputs forcing businessses to reduce the capacity of their operations.

 

[Chibson]

Lack of access to funds is one of the problems some people are facing to start a business in 2023. Lack of funds can prevent people from reaching their goals in businesses.

 

[Niyi Briggs]

In my country, there are a number of challenges that would affect a new business. The first one is inflation. The second challenge that we have is insecurity and this has affected businesses.

 

[Johnson2468]

A lot of new business face the challenge of lack of funds and then security is another big challenge that even existing businesses face, as they are thinking of how to make profit

 

[Niyi Briggs]

A lot of new business face the challenge of lack of funds and then security is another big challenge that even existing businesses face, as they are thinking of how to make profit

If you add in the Forex crisis which doesn't allow you to easily access dollar to import production inputs, it really becomes a difficult call to make.

 

[Johnson2468]

Lack of fund is a challenge a lot of new businesses are facing. This lack of fund do not make some of them to be able to do some necessary things

 

[Niyi Briggs]

Lack of fund is a challenge a lot of new businesses are facing. This lack of fund do not make some of them to be able to do some necessary things

That's why I always tell prospective entrepreneurs to start at the level that their capital can reach. I love convenience than stress on business.

 

[Johnson2468]

That's why I always tell prospective entrepreneurs to start at the level that their capital can reach. I love convenience than stress on business.

And the problem with some of these people is that they want to get big interest even than someone that has being in the system for so long. Most of the new business owners of now don't want to make small profit

 

[Niyi Briggs]

And when they fall, they fall big too. It is best to take time to learn and master a business before going deeper into it.

 

[Johnson2468]

Yes it is good to learn well and acquire all the knowledge necessary for what you are going into and then start small so you can grow up and gather experience as you grow

 

[Bisolami]

In my country, there are a number of challenges that would affect a new business. The first one is inflation. The second challenge that we have is insecurity and this has affected businesses.

Insecurity and inflation has affected every part of our economy so badly

 

[Stardom22]

The most challenging factor that has led most people not to start their own businesses is the lack of capital.This is the main source of the business funds. Without it no business can be started or ran.

 

[Heatman]

capital has always being one of the problem people have when it comes to starting a business.

It is going to be very difficult for you to succeed in any kind of business without having the capital to start it in the first place.

 

[cherry123]

Yesh having the capital I mean the right capital is the most challenging factor that has led most people not to start their own businesses. business needs money to get it started

 

[Stardom22]

In this year, 2023 the rates of the world ongoing inflation is expected to rise significantly. So this means that the economy is still not favourable for the sustainability of the business.

 

[cherry123]

That's the truth the rate of inflation now is quite high even in my country so it becomes a challenge for some businesses to stay afloat So the economy is bad

 

[Chibson]

In my country, there are a number of challenges that would affect a new business. The first one is inflation. The second challenge that we have is insecurity and this has affected businesses.

Inflation is a very big challenge when it comes to starting a business. It usually kills small businesses on the long run.