Challenges of Small Businesses

[Golden9]

Every business will face challenges, but small businesses can face more challenges because they don't have enough capital or resources to handle challenges that will arise. They also have smaller profits since it's small scale.

Have you faced challenges with your small business?

 

[Carson20t]

There are alot of challenges for start up entreprenuers or start ups,and some of the main challenges include the following;
1.time management
2.self doubt
3.capital
4.human resource or administration
5.cashflow management
6.marketing and advertisement
7.business growth.

 

[Raja]

Small scale businesses always face more problems as compared to large scale but they get support from Government.

 

[cherry123]

Small businesses will have to bear all loses and risks involved in a business

 

[Springtime]

Lack of sufficient capital, difficulty in recruiting and retaining talented staff are some of the challenges facing SMEs.

 

[eldavis]

One major challenge of small business, especially at the earning stage is advertising the business. It can be pretty difficult getting potential customers to know about your business.

 

[Passiveearner]

Every business will face challenges, but small businesses can face more challenges because they don't have enough capital or resources to handle challenges that will arise. They also have smaller profits since it's small scale.

Have you faced challenges with your small business?

Having a really small business does not always mean that you will never generate a really small amount of profits all the time because sometimes the amount of profit you generate may depend on the kind of investments and the nature of the activity of the business.

 

[Johnson2468]

One of the challenges is lack of enough funds

 

[Stardom22]

The main challenges for small businesses is lack of funds for the expansion of the business. Most of the Businesses end up collapsing or stagnating on a very inadequate working capital.

 

[cherry123]

SMEs are always facing some of the challenges which Includes difficulty in retaining talented staff, lack of sufficient capital, difficulty in recruiting lots more. But some of them work hard to stop this

 

[SHAHID987]

If you are starting a small business than there is a great chance that you will face a lot of indrances, one of which is as you are starting a small business you do have less capital you cannot Orient your shop with too much products so their will be less sale.

 

[Niyi Briggs]

One of the challenges of small businesses is how to compete and survive against the big players. The big businesses in that sector wish to swallow up the small businesses.

 

[cherry123]

I don't why starting a small business always come with a lot of hindrances, as you are starting a small business you would faced with loev capital or low level of productivity

 

[Niyi Briggs]

One of the challenges of starting a small business is self motivation. It is not easy when you have to be the one doing everything. You might lose steam along the way.

 

[astutimeliana723]

Every business will face challenges, but small businesses can face more challenges because they don't have enough capital or resources to handle challenges that will arise. They also have smaller profits since it's small scale.

Have you faced challenges with your small business?

Yeah right, I agree with you. The main challenges for small entrepreneurs are usually related to capital, skills and experience. So that the space for movement tends to be more limited, compared to those who have a lot of capital, skills, and experience.

 

[Niyi Briggs]

Yeah right, I agree with you. The main challenges for small entrepreneurs are usually related to capital, skills and experience. So that the space for movement tends to be more limited, compared to those who have a lot of capital, skills, and experience.

It is expected that an entrepreneur should have worked on acquiring skills and experience before setting out to start the business. The main problem is always capital because most small businesses start in a small budget plus hope.

 

[astutimeliana723]

It is expected that an entrepreneur should have worked on acquiring skills and experience before setting out to start the business. The main problem is always capital because most small businesses start in a small budget plus hope.

Yes, that's right, I also used to work first and collect my salary money as business capital that I built after leaving work. Actually, you don't need a lot of capital, before as a beginner I only had around $ 30 to start opening my offline store.

 

[Niyi Briggs]

Yes, that's right, I also used to work first and collect my salary money as business capital that I built after leaving work. Actually, you don't need a lot of capital, before as a beginner I only had around $ 30 to start opening my offline store.

That was better than going to take a loan. I am sure you had peace of mind running the business because you saved the money by yourself.

 

[astutimeliana723]

That was better than going to take a loan. I am sure you had peace of mind running the business because you saved the money by yourself.

That's right, I have the principle that I will not owe anything unless it is really urgent. After I managed to get a profit, some of the profit I used to develop capital, and the rest was saved for daily needs.

 

[IB D]

One challenge of small businesses is the ability to attract customers. Most of them are operating in industries that are saturated. They have to engage in intense marketing drive to succeed.