In the business world of course we will definitely feel ups and downs, so in this case we as small businessmen must of course be ready to face the failures that occur, don't give up easily because from a failure we can be a guide for the better in the future, and we must know many big businessmen who every time they experience problems but they can still stand up because they have a way to solve it all, then in this case we as small businessmen must be able to improve quality so that it can develop and all this certainly needs a process.
i think you are right. that a failure is a common thing in a business. and those who can bounce back from a failure are those who will achieve great success later. because those who can rise from failure are those who have learned from the mistakes they have made in the past. and learning from failure is a very expensive science. because through a very difficult process. and the key to learning from failure is not giving up easily. keep trying and trying while we can.
Topic: Business failure among small-scale entrepreneurs - page 11. (Read 3236 times)
In the business world of course we will definitely feel ups and downs, so in this case we as small businessmen must of course be ready to face the failures that occur, don't give up easily because from a failure we can be a guide for the better in the future, and we must know many big businessmen who every time they experience problems but they can still stand up because they have a way to solve it all, then in this case we as small businessmen must be able to improve quality so that it can develop and all this certainly needs a process.
i think you are right. that a failure is a common thing in a business. and those who can bounce back from a failure are those who will achieve great success later. because those who can rise from failure are those who have learned from the mistakes they have made in the past. and learning from failure is a very expensive science. because through a very difficult process. and the key to learning from failure is not giving up easily. keep trying and trying while we can.I prefer to say it's not a failure, because if it says failed it means we have stopped trying, because failure is only for people who stop trying.
start on being big which they do start up on scratch too but it did really end up on getting recognized and getting some demands and this is why they do reach out this kind of situation.
There are lots or soo much things that you would be encountering along the way on which you would really be making yourself believe that this is really the end or tough thing to engage on.
Failures is common but as much as possible you should minimize it if you are really that having those goals or targets in business success.
In the business world of course we will definitely feel ups and downs, so in this case we as small businessmen must of course be ready to face the failures that occur, don't give up easily because from a failure we can be a guide for the better in the future, and we must know many big businessmen who every time they experience problems but they can still stand up because they have a way to solve it all, then in this case we as small businessmen must be able to improve quality so that it can develop and all this certainly needs a process.
i think you are right. that a failure is a common thing in a business. and those who can bounce back from a failure are those who will achieve great success later. because those who can rise from failure are those who have learned from the mistakes they have made in the past. and learning from failure is a very expensive science. because through a very difficult process. and the key to learning from failure is not giving up easily. keep trying and trying while we can.I prefer to say it's not a failure, because if it says failed it means we have stopped trying, because failure is only for people who stop trying.
Currently, the fierce competition in the business world is also what makes small businesses prone to failure. because of the many competitors in the business, forcing business people to always be able to innovate and adapt quickly. and business people who adapt slowly, they are usually the first to fail. so to be able to survive in business today, of course what is needed is to continue to innovate, adapt to the environment, be it market trends or the like. skill and careful planning are also definitely a must-have. and many other factors.
When there is a business owner with 1 million dollars, and one that has 100k dollars, you know which one will win that competition. Startups are growing only thanks to big bank money to help them out, and that is how the ones that stand end up achieving something. You think facebook would have been what it is today without getting some rich people to invest into it first? Of course not, we all know that it would have been gone already, but that doesn't change the fact that it grew out of that.So any business that starts small, without huge investors, would be prone to failure, and that is why the ones that failed are proven to be ones who didn't get that big investment.
In the business world of course we will definitely feel ups and downs, so in this case we as small businessmen must of course be ready to face the failures that occur, don't give up easily because from a failure we can be a guide for the better in the future, and we must know many big businessmen who every time they experience problems but they can still stand up because they have a way to solve it all, then in this case we as small businessmen must be able to improve quality so that it can develop and all this certainly needs a process.
i think you are right. that a failure is a common thing in a business. and those who can bounce back from a failure are those who will achieve great success later. because those who can rise from failure are those who have learned from the mistakes they have made in the past. and learning from failure is a very expensive science. because through a very difficult process. and the key to learning from failure is not giving up easily. keep trying and trying while we can. 
~snip~
You forgot to mention that harsh government policies can make a small business go under. A typical example which I remember clearly is Gokada. Gokada is a tech startup based in Lagos, Nigeria. The startup launched as a ride hailing company in 2017. And in 2020 the Government of Lagos State in Nigeria stopped the Gokada from working citing insecurity. A claim which made no sense. Even though, the company has now diversified into Logistics and Food Delivery, their ride hailing plan was the best because the company came with a very good initiative, where you can track their bikes to know where they are and where they are going. They are well registered. You can even track the bike from your phone, but the government cancelled it without a good explanation. 
Government policies is one of the great challenges small scale business owner are facing. Most times in Nigeria policies made does not favour young entrepreneural. This make the big entrepreneural boom when coming keep failing in their business trails.
It is advisable for small businesses to find the easiest and most creative ways to keep thriving amidst government policies by thinking ahead of the pack or by not limiting the possibilities of expanding or improvising to standout.
~snip~
You forgot to mention that harsh government policies can make a small business go under. A typical example which I remember clearly is Gokada. Gokada is a tech startup based in Lagos, Nigeria. The startup launched as a ride hailing company in 2017. And in 2020 the Government of Lagos State in Nigeria stopped the Gokada from working citing insecurity. A claim which made no sense. Even though, the company has now diversified into Logistics and Food Delivery, their ride hailing plan was the best because the company came with a very good initiative, where you can track their bikes to know where they are and where they are going. They are well registered. You can even track the bike from your phone, but the government cancelled it without a good explanation. Government policies is one of the great challenges small scale business owner are facing. Most times in Nigeria policies made does not favour young entrepreneural. This make the big entrepreneural boom when coming keep failing in their business trails.
In the business world of course we will definitely feel ups and downs, so in this case, we as small businessmen must of course be ready to face the failures that occur, don't give up easily because from a failure we can be a guide for the better in the future, and we must know many big businessmen who every time they experience problems but they can still stand up because they have a way to solve it all, then, in this case, we as small businessmen must be able to improve quality so that it can develop and all this certainly needs a process.
No matter how big or small the business is, challenges and failure possibilities will always occur. Even well-established companies could fail due to unsolved problems. In the current inflation crisis that we have, companies having a weak foundations will surely have a hard time surviving so they have to double their efforts and desire to keep their resistance firm during this situation. The competition is also getting stronger so they have to create more effective strategies to keep more clients. The ones who will suffer the most during this situation are the small-time businesses but I hope they could survive this inflation. 
Many people dont admit that inflation is actually happening - this is true then the people around the world are going through the most difficult times
Many small businesses are failing and people are unable to figure out where are the things going wrong.
Many small businesses are failing and people are unable to figure out where are the things going wrong.
When there are a lot of small businesses that are failing at the moment, I don't think it's that hard to figure out where the fault is, because the bottom line must be due to the lack of buyers for these small businesses. Especially if at this time in each area there are already more mini markets that sell various kinds of goods for daily needs and it becomes the toughest competition for small entrepreneurs.
But if you're saying it's for the whole world, then you've traveled the world doing more research on it and I hope you'd like to share a little bit about the results of that research here. Because I don't think this covers the whole world, which at the moment in the richest countries in the world there is never any news of the failure of small entrepreneurs.
In the business world of course we will definitely feel ups and downs, so in this case we as small businessmen must of course be ready to face the failures that occur, don't give up easily because from a failure we can be a guide for the better in the future, and we must know many big businessmen who every time they experience problems but they can still stand up because they have a way to solve it all, then in this case we as small businessmen must be able to improve quality so that it can develop and all this certainly needs a process.
The most basic factor that triggers business failure among small entrepreneurs is their inability to understand the business environment or lack of enthusiasm for doing business.
You're right, alot want to engage in business which they never have an experience in amd are not making moves to develop themselves on this weakness they have, business is only sern afar before a start, till you fully launched into it before you realize what's involve and this has been the common reason you see some ventures on a closedown mode after a successful launching, they didn't gibe a proper administration to it and it ended like that.
The main risk lies in the company's ability to survive when external pressures are applied eg location selection, insufficient capital investment, or asset appreciation. This is because small businesses are generally founded by individual businesses, for example at home or otherwise.
There must be a rescue techniques aropted for a business in case of challenges, this will serves as miscellaneous to be use to cover up for any challenge during the run of a business.
I would like to add following things to the list
1 - Wrong timing of the Product:
Even though your product is excellent, sometimes business fails because market is not ready to buy or understand your product
2 - Poor Marketing:
Marketing is crucial for any business. If you do marketing at wrong section of people, your marketing fails and so your business.
And there is one other factor - which is the external factor 1 - Wrong timing of the Product:
Even though your product is excellent, sometimes business fails because market is not ready to buy or understand your product
2 - Poor Marketing:
Marketing is crucial for any business. If you do marketing at wrong section of people, your marketing fails and so your business.
Like the product were released at good time and marketing too was good but COVID damaged everything. Sometime we can't do anything.. When the big businesses were falling mask making companies flourish like crazy. This is called. Luck
True. Natural disasters are not in our control. And also Luck.
Small businesses are certainly very easy to fail because most small businesses do not get attention from the government and to find additional capital are very difficult, small businesses are difficult to compete with large businesses because production costs are very high and very limited finances.
There's a help if there is a support from the government but each country has a different policy in terms of support to the small businessmen and entrepreneurs. I think, before you start, you have to think that there's no one that will support you and even your family, that's usually how business goes. Do not expect any help from any of your relatives even the government. You've started it all and you must do all the grit and hardwork for you to thrive with your business. But I wouldn't say that all of them are bound for failure and they're easy to be like that. Others are just starting small and when they tick on the right system and operation, they're also quick in expanding and growing. 
Small businesses are certainly very easy to fail because most small businesses do not get attention from the government and to find additional capital are very difficult, small businesses are difficult to compete with large businesses because production costs are very high and very limited finances.
Are you aware that big businesses started small, everything started in a small way. When a business is small it is important to give that business every attention that will be good for the business to grow. One of the serious problems that usually affect small businesses is when their is no much fund needed for the business, it is not as if it is too hard to make a small business grow. Government don't need to fund a small business to grow. I have seen lot of business without support of Government are doing well.
Of course you would really be expecting that there are business owners will really be competitive and trying to place themselves on the top which it would result whether your business would succeed or not.
Failure is always been part but trying out your best first and never give up so easily.Each business does have its own challenges which it would really be that normal.
Small businesses are certainly very easy to fail because most small businesses do not get attention from the government and to find additional capital are very difficult, small businesses are difficult to compete with large businesses because production costs are very high and very limited finances.
Are you aware that big businesses started small, everything started in a small way. When a business is small it is important to give that business every attention that will be good for the business to grow. One of the serious problems that usually affect small businesses is when their is no much fund needed for the business, it is not as if it is too hard to make a small business grow. Government don't need to fund a small business to grow. I have seen lot of business without support of Government are doing well.
The most basic factor that triggers business failure among small entrepreneurs is their inability to understand the business environment or lack of enthusiasm for doing business.
The main risk lies in the company's ability to survive when external pressures are applied eg location selection, insufficient capital investment, or asset appreciation. This is because small businesses are generally founded by individual businesses, for example at home or otherwise.
The key to success in entrepreneurship does not entirely lie in one's business skills but also requires a positive attitude towards life and effective planning in maintaining business facilities where skills, solid market strategies, having good/creative ideas, and innovation in operating the business to keep it running.
Currently, the fierce competition in the business world is also what makes small businesses prone to failure. because of the many competitors in the business, forcing business people to always be able to innovate and adapt quickly. and business people who adapt slowly, they are usually the first to fail. so to be able to survive in business today, of course what is needed is to continue to innovate, adapt to the environment, be it market trends or the like. skill and careful planning are also definitely a must-have. and many other factors.The main risk lies in the company's ability to survive when external pressures are applied eg location selection, insufficient capital investment, or asset appreciation. This is because small businesses are generally founded by individual businesses, for example at home or otherwise.
The key to success in entrepreneurship does not entirely lie in one's business skills but also requires a positive attitude towards life and effective planning in maintaining business facilities where skills, solid market strategies, having good/creative ideas, and innovation in operating the business to keep it running.
Yes, at present, let alone small businesses, many large businesses that have been founded and managed by entrepreneurs also have no experience in the business. This can be seen for example in the technology industry, where many tech giants are founded by people who have no technical knowledge of the topic.
One of the things I believe is critical to a successful business is a passion for the industry we are trying to explore. All of this shows how learning outside of our sector can be applied within it as an entrepreneur.
Business competition is something that must be faced in carrying out a business field. so in my opinion one of the strategies that must be done is to do a fairly large promotion, especially in the first 5 years of running a business.
The most basic factor that triggers business failure among small entrepreneurs is their inability to understand the business environment or lack of enthusiasm for doing business.
The main risk lies in the company's ability to survive when external pressures are applied eg location selection, insufficient capital investment, or asset appreciation. This is because small businesses are generally founded by individual businesses, for example at home or otherwise.
The key to success in entrepreneurship does not entirely lie in one's business skills but also requires a positive attitude towards life and effective planning in maintaining business facilities where skills, solid market strategies, having good/creative ideas, and innovation in operating the business to keep it running.
Currently, the fierce competition in the business world is also what makes small businesses prone to failure. because of the many competitors in the business, forcing business people to always be able to innovate and adapt quickly. and business people who adapt slowly, they are usually the first to fail. so to be able to survive in business today, of course what is needed is to continue to innovate, adapt to the environment, be it market trends or the like. skill and careful planning are also definitely a must-have. and many other factors. The main risk lies in the company's ability to survive when external pressures are applied eg location selection, insufficient capital investment, or asset appreciation. This is because small businesses are generally founded by individual businesses, for example at home or otherwise.
The key to success in entrepreneurship does not entirely lie in one's business skills but also requires a positive attitude towards life and effective planning in maintaining business facilities where skills, solid market strategies, having good/creative ideas, and innovation in operating the business to keep it running.
I agree.
Running a business is also like growing yourself, you need to grow by accepting new ideas, accepting other's opinion, and accepting the fact that you need to continue improving your business in order to make it alive and competitive to other businesses. It's all about getting out of your comfort zone, thinking out of the box, because a business that has no goals will never be a successful one.
That's right in business. There's an unstoppable growth and it's limitless if you're willing and open to hear more idea on how to make it a better running business. Running a business is also like growing yourself, you need to grow by accepting new ideas, accepting other's opinion, and accepting the fact that you need to continue improving your business in order to make it alive and competitive to other businesses. It's all about getting out of your comfort zone, thinking out of the box, because a business that has no goals will never be a successful one.
You just have to listen to some ideas if there are some experienced business owners giving you advice. Don't get heated if a more experienced person giving tips and advices, just take them and it's up to you if you will apply it after listening to them.
You have to keep on learning because the market is also changing whether you're the best business right now, time will come that people and other entrepreneurs will copy your idea and will be your rival.
The business world has become very competitive and in order to remain alive in the business for a long time, a business owner needs to be very proficient in many things, hard working, smart enough, financial capable and always keep his/her eyes on the customers.
There are two very important elements that are crucial in running successfully any business. First is the strong business idea and the second one is all about marketing and management skills to be able to keep customers/clients interested in your business. If you are thinking of starting a business, it is good to have a strong business plan that includes all the necessary aspects of your business such as: market research, competition analysis, finances, marketing plan etc. To increase the chances of your business succeeding, you need to ensure that you are constantly updated with current business trends, educated enough to know all the possible market shifts and you must be able to make most informed decisions.
There are two very important elements that are crucial in running successfully any business. First is the strong business idea and the second one is all about marketing and management skills to be able to keep customers/clients interested in your business. If you are thinking of starting a business, it is good to have a strong business plan that includes all the necessary aspects of your business such as: market research, competition analysis, finances, marketing plan etc. To increase the chances of your business succeeding, you need to ensure that you are constantly updated with current business trends, educated enough to know all the possible market shifts and you must be able to make most informed decisions.
I agree.
Running a business is also like growing yourself, you need to grow by accepting new ideas, accepting other's opinion, and accepting the fact that you need to continue improving your business in order to make it alive and competitive to other businesses. It's all about getting out of your comfort zone, thinking out of the box, because a business that has no goals will never be a successful one.
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