Why majority have given up in their respective businesses.

[Axis]

I have to be sincere, but establishing a business today and being able to manage it in this time where cost of production and standard of living is at an abnormal rate can totally be a very critical and uneasy situation for majority of business owners to accomplish or do. You will definitely need a whole lot of mental competence and skillful ability to be able to establish a successful business idea in this time. As a result of this problems caused by political instability and economic downtown many individuals have choose to close down their businesses as a result of not having sufficient capital or having adequate market towards the purchase of the goods and services.

Other possible reasons why individuals have choose to close down the business is because they engage into two much debts with either financial institutions or with their creditors.

 

[Godspower Gabriel]

Many individuals have given up in their respective businesses due to various reasons. Some may have faced financial hardships, while others may have encountered personal or health issues that prevented them from continuing. The competitive nature of the business world can be discouraging for many, leading them to lose motivation and ultimately give up. It is important for individuals to seek support and guidance when faced with challenges in their businesses, and to remember that setbacks are a normal part of the entrepreneurial journey.
With perseverance, determination, and a strong support network, individuals can overcome obstacles and find success in their business endeavors.

 

[Mikes smithen]

Truly majority of individuals have given up in their respective businesses and this is because of the increasing challenges and trials that comes with managing and establishing a business today. The most areas of west Africa so many business owners have closed down their business due to the increase cost of production and the low standard of living existing in this part of the world. This has obviously been a problem because individuals who want to establish businesses today are unable to seek for funds to carry out their business motive. Governmental restriction on certain business ideas or high increase in taxation on certain business ideas have also been one of the reasons why people have given up in their respective businesses.