Factors that affect the growth of small businesses

[Starmix]

There are contributing factors that affect the growth of small businesses. One factor is the high prices of commodities. If these small business owners purchase goods for their business center their capital will be affected, hence, they also need to stretch out their profit by increasing the value of the goods. They have people to pay and rent to pay. The main factor is inflation which affects the entire world of business.

 

[eldavis]

Cost of things is becoming a major problem. Recently there have been a complete blackout in my area, for days no light and with the high cost of fuel and the likes, a hotel manager had to cry out that they where spending close to 1.5 million naira just for fuel in a daily basis. Now they can't even pay their workers.

 

[nomad]

One of the main reasons why small businesses cannot become successful is they are unable to do marketing. In the absence of proper marketing, they fail to attract customers and hence die a premature death.

 

[HansonU99]

There are alot of factors that affect the growth of any business for instance been in so much debt can affect your business you also need proper capital management for smooth growth of your start up

 

[Starmix]

Cost of things is becoming a major problem. Recently there have been a complete blackout in my area, for days no light and with the high cost of fuel and the likes, a hotel manager had to cry out that they where spending close to 1.5 million naira just for fuel in a daily basis. Now they can't even pay their workers.

You are so roght and even ordinary people feel the agony of the sickening prices and how much more to businesses that need constant attention to make it grow fat.

 

[Stardom22]

In my country for instance, the small businesses are being affected by the fact that they lack enough business funding and way the bigger business outsmart them out of the market by exercising imbalanced and unfair business competition practices.

 

[Starmix]

Marketing your business is one factor to succeed. It is from that skill your potential customers will be convinced. They must be attracted to your appeals and presentation. Have a nice presentation style to capture their interest.

 

[Stardom22]

The small businesses is actually at stake of loosing the market share on the business industry. That's because the bigger business seems to overwhelm the small businesses with unfair business practices that takes them out of the business at all.

 

[Starmix]

There are factors that affect the growth of the small business like spending the sales or profit of the business for the owner's daily needs. The said business will never grow perhaps go bankrupt.

 

[timewo]

The growth of a business also depends on whether the business owner has powerful friends or enemies. Since 2010, powerful officials/leaders and companies have destroyed my business, robbing almost all my correspondence, so my revenues have reduced.

 

[Starmix]

There are factors that may hamper the growth of the business like price hikes, sudden changes in the economy, and foremost inflation. The small capitalist may find it hard to order supplies because of overcharging the previous prices

Post automatically merged: Feb 13, 2024

There are factors why a small business is slow as snail in sales growth. The6 said business might lack capital right planning and managing well. A small business may grow big if market it by great marketers.

 

[King Belieal]

Some of these small businesses can't even afford capital for production any longer because the costs have gone up and they really can't access loans.

 

[Starmix]

Even laziness of the business owner is one factor for a slow pace of his business.

 

[Ratine]

The most common factors that determine the successfulness of the small businesses is the market and competition for the existing businesses.

 

[cherry123]

One outstanding thing is lack of proper funding and businesses cannot become successful is they are unable to do marketing. you need to make people be aware of your business

 

[Starmix]

Poor strategies and services are factors for the slow growth of the business. It could be corrected by the owner by changing his strategies and improving the services.

 

[Shavkat]

There are contributing factors that affect the growth of small businesses. One factor is the high prices of commodities. If these small business owners purchase goods for their business center their capital will be affected, hence, they also need to stretch out their profit by increasing the value of the goods. They have people to pay and rent to pay. The main factor is inflation which affects the entire world of business.

As far as I could remember, paying business tax can kill small businesses. However, we cannot do anything but to pay them.

 

[Starmix]

As far as I could remember, paying business tax can kill small businesses. However, we cannot do anything but to pay them.

Taxes in small businesses are also small. In fact, when they hire an accountant the lesser the amount of the tax they will pay. It will be manipulated by an accountant.

 

[Ratine]

Small businesses really faces so many challenges in my country like the unfair competition from the bigger businesses

 

[Starmix]

There are challenges to face if a small business lacks some important products that customers usually need.