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.