Why many small-scale businesses today and not making sales.

[TOZZIBLINKZ]

It is usually considered that the main aim of establishing a business is for the sole purpose of making profits . And to make profit the business must sell goods or offer services to customers , clients , and consumers . A business who doesn't make sales is unhealthy and it could lead to shut down , liquidation , or bankruptcy .
small scale businesses today face issues like this due to some internal and external factors surrounding them so they are unable to reach higher heights in sales unless they consider these issues . Below are some of the reasons why small-scale businesses today and not making profits .

* Time business commence : some small-scale businesses today are not fully aware about when or which time they should commence their business for the day . To be more elaborate let consider the case of a "fried chicken seller " such business has the potential to make more profit at night and evening times . Because on daytime's eating chicken could probably be the least thing on someone's mind . So understanding when to commence business is essential to make business sales .

* Location : some consumers are actually mindful on where a particular business is situated . Some small-scale business are usually established in dirty and unhygienic places , so in order to avoid being sick or ill consumers avoid patronizing places like that .

 

[SANIA]

Business owners should consider a proper planning strategy to make their business work.
One cannot expect to get rich quickly.
First, the person should learn about their audience's interests. Then the quality of products is also important.
Then perfect marketing strategies and knowledge about the business should be accurate.
Always learn from your successful competitors and try to implement successful strategies in your business.

 

[Caramelle]

There are other reasons why a small business may not be making sales. One is unrealistic pricing. Some small businesses price themselves out of the market, often forgetting that there are alternatives and other players n the industry. Some price their products or services like they'd want to earn their rental and upkeep from a single customer. Customers are smart and they would buy in places where they can get more for their money. Another is poor product presentation. You may be in a location with high foot traffic but if you're in a food business, you have to show that your products are safe and clean. Many street food vendors just sell their products without cover at all, exposing them to elements like dust, dirt, and germs. Nowadays, with the pandemic still around us, people have become more discriminating.​

 

[moonchild]

I love small business, and they are the bedrock of the economy because they make money circulate around people but lately small business keep on closing down because of many factors which you mention some in your post.

Most small business are not in the correct business, they don't understand where they belong in the value chain, most of the are just there because they heard a business is making money or there is money in an industry for example, there are a lot of people that started a tech start up because they heard tech start up pulls in a lot of money from venture capitalists.

So this type of people will not do any market research and will just jump into it and they will fail woefully and start blaming other factors for their failure.

Before small business owners get into the business at first they should try to understand if there is any demand for their business at first, f there is not any then they should just keep their money instead of wasting it in the name of starting a business.

Small business owners should also start small and focus on their what is important and should forgo the idea of starting on a big scale.

 

[Shaf]

It is usually considered that the main aim of establishing a business is for the sole purpose of making profits . And to make profit the business must sell goods or offer services to customers , clients , and consumers . A business who doesn't make sales is unhealthy and it could lead to shut down , liquidation , or bankruptcy .
small scale businesses today face issues like this due to some internal and external factors surrounding them so they are unable to reach higher heights in sales unless they consider these issues . Below are some of the reasons why small-scale businesses today and not making profits .

* Time business commence : some small-scale businesses today are not fully aware about when or which time they should commence their business for the day . To be more elaborate let consider the case of a "fried chicken seller " such business has the potential to make more profit at night and evening times . Because on daytime's eating chicken could probably be the least thing on someone's mind . So understanding when to commence business is essential to make business sales .

* Location : some consumers are actually mindful on where a particular business is situated . Some small-scale business are usually established in dirty and unhygienic places , so in order to avoid being sick or ill consumers avoid patronizing places like that .

You're right about location being very important when starting a new business, and I've seen many people ignore it and then go ahead to start a business which fails.

I've seen some provision stores within a few feet of each other, in a sparsely populated area. The people in that area prefer to purchase their goods from the main market in town and as a result of poor sales, some of them closed down at a loss.

Another mistake a lot of people make is starting a business just because they've seen someone making a lot of money from it. Business doesn't work that way, and without knowing the efforts put in, it would be futile to expect similar out outcome.

 

[SafeInvestments]

Marketing as well, at least getting on Google my business and getting reviews on it for local businesses

 

[Kingsley]

The small scale and medium scale businesses are the engine room of all viable economy that we see today in the world but quiet unfortunately they have been neglected here in my country. If we are taking in index of the growth rate of a country those figures has a lot to do with how well the small and medium scale business are thriving in a country. If they are not thriving properly it will imply that such an economy is not very well irrespective of what ever statistics the governor that country is trying to project. This is because no matter how we try to neglect the place of the micro economy we just can't, as it appears that the macro economy depends heavily on what happens at the micro level of economics. So the small scale business are suffering alot of set back as a result of poor funding, which is more traceable to the government of our country in terms of mismanagement and poor economic policies that has really affected the growth and advanced of the small scale business to generate funds to fund their businesses. Another problem is the lack of technical know how on the parts of the entrepreneur.