What are the challenges involved in a business?

[Potuse]

Businesses are faced with different types of challenges and we cannot dispute that there are no business with no challenges . The major challenge that a business would face is the risk and the capital to make it run smoothly. Share your opinion.

 

[eLdavis]

When it comes to running a business, one major challenge business owners usually face is how to reach their target audience and retain them. The only way you can make profit in your business is if you know your target audience and you are able to get their attention.

 

[Joy123]

Just a few of the challenges I see businesses facing that are best addressed with the help of a consultant. They include: uncertainty about the future, financial management, monitoring challenges, competencies and recruiting th right talent, customer service, and knowing when to embrace change.

 

[Sotherefore]

Exactly , like you said it depends on the type of business but there are some general challenge that are likely to be faced by almost all business irrespective of the type.
Such challenge include competition, lack or low demand for products or services produced and so on.

 

[Laurentta]

Some of the challenges involved in a business are: hiring the right employees, building a brand, developing a customer base, advertising a new product, dealing with competitors.

 

[Nomad]

Marketing is one of the biggest challenges in a business. A lot of businesses do not have marketing skills or marketing budget, that's why they are unable to generate sales.

 

[Chibson]

There are a lot of challenges that businesses face presently. Competition is one of the major challenges and any business venture that is able to compete well woll end up succeeding.

 

[joy101]

There are so many challenges that are involve in running a business today, one of them is the ability to keep your business going, after having the capital to establish your business.

 

[Good-Person]

There are a lot of challenges that businesses face presently. Competition is one of the major challenges and any business venture that is able to compete well woll end up succeeding.

There are many reasons why competition is quite high. Competition is quite high because many businesses are becoming over-saturated as there are many people who are venturing into many businesses.

 

[Abigael]

One of the biggest challenges in business is the fact that you can be lazy sometimes. That causes you to procrastinate on important things in your business. You will have to learn how to deal with this issue so that you can succeed in business.

 

[Chibson]

There are many reasons why competition is quite high. Competition is quite high because many businesses are becoming over-saturated as there are many people who are venturing into many businesses.

Yeah, whenever people realise that a particular business is profitable so many of them will begin to venture into it. That is why competition is getting high on daily basis and many businesses are becoming saturated.

 

[Jonaville]

Businesses are faced with different types of challenges and we cannot dispute that there are no business with no challenges . The major challenge that a business would face is the risk and the capital to make it run smoothly. Share your opinion.

Money is the major problem that a lot of people face when it comes to starting or handling a business. A lot of people may not have enough capital to start the business that they like.

 

[Immilash]

If you are having a business just put it on mind you are going to face a lot of challenges, this also part of the business,you have to taste the bitter before you can recognize the sweet.

 

[Ernestnari]

The greatest challenge I am facing now as a business person is time management. As an entrepreneurz you, would have lots of work to do for your business. I can't even have a social life.

 

[Immilash]

The greatest challenge I am facing now as a business person is time management. As an entrepreneurz you, would have lots of work to do for your business. I can't even have a social life.

An this the most important thing you need to keep on mind. If you are not good at managing your time an also your expectations you are not going to get what you want.

 

[Shigobad2020]

Exactly , like you said it depends on the type of business but there are some general challenge that are likely to be faced by almost all business irrespective of the type.
Such challenge include competition, lack or low demand for products or services produced and so on.

The first and the worst challenge that might happen to a business is competition from another business , most especially a well established business producing similar product like yours

 

[Immilash]

Lack of having capital, of you don't have a capital I think that will be a big challenge, you might have the knowledge an everything but you'll not have the capital.

 

[Trey]

One problem that is prevalent among most Small and medium businesses is the lack of proper financial management. And this is caused most times by the lack of an accountant to properly manage the finances of the organization.

 

[Danny4cash]

Every business have it's own challenges. No matter the business you are doing, you'll faced challenges. One of the challenges you can faced in business is accidental losses. There was a time a friend if mine went to buy many created of egg to sell to local business owners in our area. As he was returning the bus collide with another bus and all the egg destroyed. This is one of the involved in starting a business.

 

[Abigael]

One problem that is prevalent among most Small and medium businesses is the lack of proper financial management. And this is caused most times by the lack of an accountant to properly manage the finances of the organization.

Poor financial management is something so serious that could make a business collapse. A business should have a qualified accountant who is accountable for the company's finances.