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Topic: WHY SMALL BUSINESSES FAIL

  1. #53
    Newbie jonahmickey's Avatar
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    Re: WHY SMALL BUSINESSES FAIL


  2. #54
    Newbie abumconsults's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    get what u need for any business at businessguidengr..com

  3. #55
    Newbie babablue99's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    Eyin Guys let us travel to Australia through Humanitarian visa
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  4. #56
    Newbie lumee dee's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    hello house'
    i believe that we can all go into business if we want to but the challenge is that most people go into business to make money instead of going into it to provide a solution

  5. #57
    Newbie charsjoe's Avatar
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  6. #58
    Newbie AISL's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    Thanks, Emmanuel.

  7. #59
    Newbie bun-raji's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    Nice posting and this may help you as well visit /3fmWQ

  8. #60
    Newbie valmoren's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    Thanks.
    k

  9. #61
    Junior Member sweetpearl20's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    nice piece u got there. small business fail i must tell u. it is better u build a business where all the tools have been provided for you. you dont need a special qualification. please people in the house, read robert kiyosaki books. thanks emma. am available for consulting on how to build business. 08030871746/08022866142

  10. #62
    Member kunlexengine's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

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  11. #63
    Newbie wiresnetbiz's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    Quote Originally Posted by okmoreal
    WHY SMALL BUSINESSES FAIL

    POOR LOCATION: Some of the reasons why start-up fail is the inability to situate in a good area for business. Sometimes some organizations are located far away from raw materials and factors of production like labour. If a fast food is located close to a bank, the business will thrive and if a boat manufacturer is located in the neighbourhood there will hardly be sales because it is not a riverine area.

    MISUSE OF FUNDS: Mismanagement of business of business fund is a big problem that causes stunted growth. If a business begins to make profit, part of it should be reserved for the future plan and continous existence. Atleast 40% should be added back to the capital and not misused by the business owner for luxurious spending.

    LACK OF SUFFICIENT CAPITAL: So many small businesses have this problem as there number one, because it is the capital that will make provision for office and equipment, staffing, cost of production and advertising. Sometimes start-ups need good capital depending on the plan of the business for instance, you cannot run a cyber cafe with as low as a hundred thousand naira. You would have to consider the cost of getting an office that is the rent, then the computers, printers, ISP(Internet service provider), furniture etc.

    LACK OF EXPERIENCE: Where a business owner fails to make a good plan there would be failure in the long run of the business and this is as a result of inexperience,also if a businessman does not understand the kind of business to do and how to manage people very well there would be problems.Inability to convince investors with a good business plan and a proposal is going to be a big problem,a business person should enjoy and be passionate about his or her business.

    OVER-INVESTMENT IN FIXED ASSETS: Sometimes some companies have made mistakes in the area of acquiring gadgets, machinery and buildings. If an upcoming business should have over sufficient space and they paying for the rent, it affects the size of their capital because such space is not used to give them extra income. It is dangerous to have excessive working equipment and over staffing.


    COMPETITION: Some business cannot cope with the rising effects of competition in their area of specification, because of lack of good planning strategy which could sometimes be as a result of piggy-backing. Piggybacking means depending on a bigger business for survival, some businesses find it difficult to build their brand and differentiate themselves from the crowd which a problem and one of the biggest reasons small businesses fail.

    I remain your business consultant anytime,always at your service,keep a date with me weekly(every wednesday).See you at the top.Wishing my dear readers, a Merry Christmas and a Prosperous New Year.

    Mr Emmanuel.
    07040406923.

    Poor location is actually one of the problems militating against the success of small businesses.

    This may not be far-fetched. Good locations are usually very expensive for small businesses to locate their businesses there, hence, they may decide to set up in locations where they can afford. For instance, a small restaurant situated in a local area will not attract the kind of customers that the one in a city will attract.

    However, location can be used advantageously. If you don't have money to rent a place in the city, you can decide to provide goods and/or services that will benefit those in your locality. All you need do is to find out their needs.

    Another way to overcome the problem of location is to start a business at home using your computer. There are several businesses you can do on the internet from the comfort of your home and you can have access to several parts of the world.

  12. #64
    Junior Member Read7's Avatar
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    Re: WHY SMALL BUSINESSES FAIL

    Research has it that 90 percent of those who became entrepreneurs in order to make ends meet usually fail. If you must succeed, then do not let your livelihood depend on an upcoming business until it is fully mature and profitable. Its like planting a vegetable and eating the first leaves that sprout, how would the plant photosynthesize and gain nutrients for further growth? Agree!

  13. #65
    Newbie oviedking's Avatar
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    LACK OF GOOD BUSINESS STRATEGY

    Many people today believe in making money,some will say i will go into business but they just don't have any business strategy thinking business is just business but i must tell you if a man with twenty million starts a business without a good business strategy in a short period of time that man might fall out of business but even if a man has just twenty thousand with a good business strategy in a short period of time that man will soon be a millionaire.my advice to business men and women is think,plan and execute your plans positively.remember business grows b'cos of two important things and that is 1)business grows when friends and family pay for services rendered to them. 2)business grows only when you know you can't please everyone.

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