Augusta
VIP Contributor
My first business didn't make headway some years ago and it really pained me then because my brother that gave me the capital was sceptical about it but I pressured him to give me a try. Well, I started the business, though it didn't collapse but was stagnated and ofcourse you know before long it will fail and it eventually did
So I learned from it the following factors that can keep a business financially stagnated.
Low profit margin: I used to have a poor profit level after the day's sales. You might be unable to pick the business bills at the end of the day let alone have a savings
increased cost of the products: Another issue was increase in the cost price of the products when I get back to buy the products. So I have to be adding more money to buy the products I had sold a lot cheaper than what I'm buying now.
payment of unnecessary fees: If you have license or fees to pay intermittently then you are in for a long ride. I was always taxed for different things in the business premises so some profit of the day went on unnecessary fees.
What Is causing financial stagnation in your business?
So I learned from it the following factors that can keep a business financially stagnated.
Low profit margin: I used to have a poor profit level after the day's sales. You might be unable to pick the business bills at the end of the day let alone have a savings
increased cost of the products: Another issue was increase in the cost price of the products when I get back to buy the products. So I have to be adding more money to buy the products I had sold a lot cheaper than what I'm buying now.
payment of unnecessary fees: If you have license or fees to pay intermittently then you are in for a long ride. I was always taxed for different things in the business premises so some profit of the day went on unnecessary fees.
What Is causing financial stagnation in your business?
