What are the most common problems of small businesses in your country?

Alexandoy

VIP Contributor
The small businesses here cannot be considered thriving even if the sales are good. Most of those sellers of merchandise are experiencing lack of capital. They turn to the micro lenders who charge a high rate of interest. The sellers say that it is better to be in debt instead of not having a business at all. Part of the profit that they earn in a day goes back to the lender because the installment is daily.

I think the only way to end the agony of the sellers is to create an agency that will provide micro loans – amount is from $50 to $200. When they borrow money with little interest then they can afford to roll the profit for a bigger capital on the next day. For sure they will be free of debt in a month or so.
 

Axis

Valued Contributor
In my country Nigeria small businesses undergo some challenges and circumstances which can hinder its growth and development. Small businesses are being regarded as inferior by the government and because of this they do not support this business owner in growing their business. Most of the time small businesses are often found in rural areas and because of these such businesses find it hard to survive. Small businesses sometimes do not get the patronage of the consumers because the consumer is my view such businesses as not satisfying and so therefore they prefer going to big businesses that can satisfy their needs or their want. Small businesses face the problems of not making the desired amount of money for example due to the fact that it is a small businesses they will be school management of the business and when the management of the business is slow this can also affect the funding capacity of the business as well. And also in small small business any slight challenge that is not handled properly can lead to the termination or crumbling of the business
 

Abigael

Valued Contributor
That would be a really good move for providing microloan lenders. Here in my country, small businesses suffer due to such debts too. Another problem is the tax imposed on them by the government. Sometimes it goes so high and this affects them so much. I think small businesses should be exempted from paying tax, it it should just be reduced.
 

Mika

VIP Contributor
Lack of funds is one of the major issues many small businesses are suffering in my home country. Well, there are banks and financial institutions to fund the business but they ask for collateral and many businesses do not have anything to give as collateral, even if they have the interest rate is beyond affordable.
 

kayode10

VIP Contributor
Regular power supply is one of the major problems of small-scale business in my country. Majority of them rely on generating plant to generate power to run their business. The cost of procuring fuel for the generating plant usually eat up their profit at the end of the day. And the government is not doing anything to help them in this aspect.
 

btaliat

VIP Contributor
Small business owners are faced with many problems in my country, ranging from the high tax levied on them by the government without even minding ther revenue. This small businesses as well do not really have access to loans because there is no collateral for them. Erratic power supply as well is also one of the problems.
 

Chibson

VIP Contributor
There are a lot of issues small businesses face in my country and that is the reason why many small businesses do not survive. financial problem is one of the major problems businesses face in my country. Even though the government has come up with programs that will help fund small businesses but it seem that it wasn't enough.
 

kayode10

VIP Contributor
Another problem small scale businesses face in my country is ability to access loan and Grant. It takes a strong connection to secure a meaningful loan in my country for small-scale business especially when the business owner don't know anyone. Sometimes you need to go through different bribery before you can secure a meaningful loan.
 

anil02

Verified member
The small businesses here cannot be considered thriving even if the sales are good. Most of those sellers of merchandise are experiencing lack of capital. They turn to the micro lenders who charge a high rate of interest. The sellers say that it is better to be in debt instead of not having a business at all. Part of the profit that they earn in a day goes back to the lender because the installment is daily.

I think the only way to end the agony of the sellers is to create an agency that will provide micro loans – amount is from $50 to $200. When they borrow money with little interest then they can afford to roll the profit for a bigger capital on the next day. For sure they will be free of debt in a month or so.
It is right that most of small business have problem of finance. But in India we have many schemes to start small business. We can get finance from bank under these schemes. I too get finance before 20 years to start a small business. government is also giving subsidy to use.
 

kayode10

VIP Contributor
Small-scale business often face stiff competition from the big players in their industry they found themselves. This big players make it pretty much hard for them to make profit as they have access to easy loans and government grants. This big company is also producing something in cheaper price compare to the small-scale business.
 

MOSIUR

Active member
The problems you have mentioned here for the small businessmen are same to my countrymen. They are also suffering for such type of issues. Besides, local influences, especially leaders take tax from these small businessmen and run their own interest. Money-lenders and leaders are enjoying themselves having the benefits snatched. Authorities avoid such activity.
 

kayode10

VIP Contributor
Some small scale business in my country find it difficult to procure the right equipment to use in their business production. the reason is because the exchange rate of dollar to local currency is much high. This makes those machine highly expensive for them to acquire and no one is helping them in this aspect.
 
D

Deleted member 51169

Guest
The small businesses here cannot be considered thriving even if the sales are good. Most of those sellers of merchandise are experiencing lack of capital. They turn to the micro lenders who charge a high rate of interest. The sellers say that it is better to be in debt instead of not having a business at all. Part of the profit that they earn in a day goes back to the lender because the installment is daily.

I think the only way to end the agony of the sellers is to create an agency that will provide micro loans – amount is from $50 to $200. When they borrow money with little interest then they can afford to roll the profit for a bigger capital on the next day. For sure they will be free of debt in a month or so.
High taxation is a monster for small scale businesses in the country...this is sequel to my postulation on multiple taxation low income business experience.

Another problem is the interest rate on loan collected from banks. Government should set into such capitalist tendencies of banks in exploiting low income businesses, by making laws that can grant them loans with free interest.
 

Skysaint

Verified member
One of the problems I do notice with the small businesses in my area is that they are usually very competitive. Due to the economic recession in the country, a greater percentage of the population of business men and women have gone into doing little lucrative business which in turn makes the market competitive and hard to earn from
 

Sotherefore

VIP Contributor
I don't really see any problems of small business in my country but most smaller business in my country do not progress and this is not a problem because the owner of these businesses do not see the need to expand their business . I believe if they really see the need to expand their business it is possible that they could have expand into something big.
 

Jonaville

Active member
A lot of problems affect the small businesses in my country. most of these businesses have the potential to become large scale, but sadly, because they lacked the incentive and the capital to continue to grow their business, they either just continue with the small business or even fold up eventually. This is mostly due to lack of intervention from the government.
 

niche

Verified member
For small online businesses in my country, receiving paypal payment, harassment and criminal defamation of government agencies especially security agencies is a major problem. Though the amount the paypal account holder after working for many hours, is very small, the security agencies are falsely labelling them a security threat to harass them. They are also making fake claims about the ownership of the paypal,bank account, criminally defaming the real paypal account holder, who is denied a life of dignity.
 

J0hnMM

New member
Finance, raw material, technology, marketing, infrastructure, taxes, and project planning are the common problems of small businesses in our country.
 

anil02

Verified member
Here in my country we have not too much problem of finance, here government have many plan of finance for small business. Like it we also have not much problem of infrastructure and taxes. Marketing is not problem if fact marketing is depends of many factor, location and experience of business owner is important.
 
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