What are the challenges small businesses wiil face in 2024?

[uptrendfinancialsignal]

There's going to be an increased competition with both traditional and online businesses and you should expect that to pose a significant challenge to small businesses in 2024. Having access to affordable financing and capital remain a very big challenge that's going to face small businesses and it will hinder their growth as well.

 

[nomad]

The major challenge for small businesses in 2024 is marketing. A business cannot generate sales without marketing and marketing requires a lot of money, sadly small businesses have dearth of funds for marketing.

 

[Stardom22]

The small businesses are mostly affected by the lack of enough financial resources to the business funding. This however leads the businesses to operate on smaller amount of capital that deprives the business from making profits.

 

[Ratine]

Unfair competition from the bigger businesses is a very big challenge for the small businesses in my location.

 

[eldavis]

The major problem most small businesses are facing right now is capital. With the current economy, a lot of small businesses are struggling to run their business.

 

[SHAHID987]

It could be different from country to country and area to area on the basis of my own experience in my nearby area the main challenge will remain the electricity bill, which government has increased and it is all time high, mostly shops are closed due to this factor.