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Business strategy
The challenges of starting a small company
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[QUOTE="Richee84, post: 247796, member: 42448"] Starting a small scale business is usually seen as very easy because of the little capital involved to get it operational. Even though small scale business is very easy to start it also come with it own challenges and some of the challenges face by small scale business are discuss below; Poor access to found or capital: one of the problem of small scale business is access to found, due to it small nature, most of the financial institutions don't find them attractive to lend out their money to them. They rather prefer to borrow their money out to big business owner where they know they can quickly recover back their money. Another challenge small scale business face is economy scale: because of their poor financing it is very difficult for them to buy good in large quantity at a more cheaper price or reduce price like the other big business that have been in the business for a long time. Inexperienced is another challenge that the owner of a small scale business can face if the person has not been in the business before or has no much knowledge about the business. New business tend to grow overtime as they adapt to the nature of the business. [/QUOTE]
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