Challenges associated with starting a business in the year 2023?

[Niyi Briggs]

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

That's because they won't be able to produce at a capacity they can break even. They would have to close down production.

 

[Heatman]

Challenges are part of business and through them, we become stronger. Let us never surrender.

Any kind of business that doesn't come with challenges is definitely not a business because it means that a person is just playing in the venture.

 

[cherry123]

Challenges is part of life and business if you don't face it you might not learn or be wise so with this you might be able to produce at a good capacity

 

[Etini Willie]

The challenges in my own country are enormous. You can start a business now and insurgency and insecurity swallows it up. You can start a business and inflation kills it.

 

[cherry123]

I totally agree with you the challenges in my own country now are just enormous. You can start a business now and close shop in the next 6 months now

 

[Chibson]

That's because they won't be able to produce at a capacity they can break even. They would have to close down production.

Yeah, even some established businesses suffer a lot during inflation. That is why they mostly increase prices and reduce qualities to remain in business.

 

[Yohanna]

There are huge challenges involved in starting up a business in 2023 because of the high inflation rate.

 

[Niyi Briggs]

Yeah, even some established businesses suffer a lot during inflation. That is why they mostly increase prices and reduce qualities to remain in business.

Have you realized that the quality of things has greatly reduced. Businesses are torn between increasing prices and maintaining quality. Even salt is no longer tasting again.

 

[Heatman]

Yes oh
You just have to find a way to continue running the business. It is very necessary

There will always be obstacles and challenges that will face your business and you will have to find a solution to all of them if you want to still be in business.

 

[Niyi Briggs]

There will always be obstacles and challenges that will face your business and you will have to find a solution to all of them if you want to still be in business.

Being a Nigerian and doing business is something that you need to be awarded for. The business clime in Nigeria is very challenging and only strong and rugged people make it through.

 

[flower]

One of the major challenge that you would come across before starting up a business in 2023 would be associated with capital.

 

[Reedex]

There are lots of challenges associated with starting up a business in year 2023.

 

[Chibson]

Have you realized that the quality of things has greatly reduced. Businesses are torn between increasing prices and maintaining quality. Even salt is no longer tasting again.

Probably, most of them always reduce quality and still increased prices. sometimes it may not be their fault but reducing quality is something I am against.

 

[Niyi Briggs]

They can't help. They have to stay in business. If they want to stick to standard, they might end up selling at a price that no one would be able to buy.

 

[Reedex]

They can't help. They have to stay in business. If they want to stick to standard, they might end up selling at a price that no one would be able to buy.

The major challenges that is associated with small businesses is totally based on Capital.

 

[Chibson]

The major challenges that is associated with small businesses is totally based on Capital.

Yeah, it is always important for people to start businesses according to the level of their capital. If your business is small you may not need a lot of money to finance it.

 

[uptrendfinancialsignal]

There is a huge challenge associated with starting up a business in 2023 due to the high inflation rate.

 

[Chibson]

There is a huge challenge associated with starting up a business in 2023 due to the high inflation rate.

inflation is actually the major problem a lot of businesses are facing in 2023.
This has actually discouraged some people from starting their own businesses.