WHY SMALL BUSINESSES FAIL 😥

CAN YOU RELATE🤷

Well as the name goes, small business; it definitely means the business is small or maybe at it starting point.

I feel before anyone starts any business, you should carry out what is called "feasibility study" which is trying to understudy the business to how it works, when you are convinced, then you can  start.

WHY DO SMALL BUSINESSES FAIL🤔

- Lack of planning

- Not committed to the business.

- siting a business where majority of the people don't need the product.

- Using one business to solve five family problems.

- Economic situation of the country.

- Government policies.

- Poor customer service.

- poor start up capital.

- Environmental factors like; bad road, flood etc.

- selling Seasonal products.

- Bad debt.

- poor power supply.

- inexperience

When we know and understand what can make a business fail, we will then know how to avoid them for our business to be successful.

Some of the listed point cannot be controlled, but we can still control the ones we can and leave the rest for God.

Starting a business can be tasking, but with proper planning the stress is a bit reduced.

Starting and staying in business may not be easy but with commitment consistency and patience a small this can transcend to a large scale business.

 

If others can!

You too can!

-Just give it a try.

"Shoot your shot"

-And you will see results.

#prisca#

#sweetmotherhood#