Threats of business to know before starting one

[Augusta]

They are Threats that would are common to a business that one needs to know before starting any business. The common threats you should know about includes;


Weather. if you have seasonal business know that you would be having hinderances sometimes from bad weather .

The economy
Another threet to your business is bad economy. it can make a business not to prosper.

Material shortage.
You might always have shortage of raw materials to be user for production. So you need to be ready to tackle this.

Your computer system is hacked.
Another problem is that of spy by competition and others thst wsnt to bring down the business. You should be ready for this as you need to tackle this threat.

Competition in your industry is strong.
You should know that competition is eminent so you need to know before hands to tackle it.and don't forget market demand can dry up and you would need know how to revive it.

 

[King bell]

When starting a business, it's important to be aware of the potential threats that could impact your success. Here are four threats to keep in mind:

1. Competition. There's always the potential for new competitors to enter the market and take away market share. It's important to stay ahead of the competition by offering a superior product or service.

2. Economic downturns. A recession can have a devastating impact on businesses, large and small. It's important to have a contingency plan in place in case the economy takes a turn for the worse.

3. Natural disasters. A hurricane, earthquake, or other natural disaster can disrupt operations and damage property. It's important to have insurance in place to protect against these risks.

4. Political instability. In some countries, the political situation can be unstable and this can impact businesses. It's important to monitor the political situation in your country and be prepared to make changes to your business if necessary.

 

[Rubz]

One of the reasons i don't own a business is because of the many threats attached to owning a business. I feel that one if the major threat of a business is location. One's business has to be in a location that can be accessible to customers and that is also well secured. If one's location isn't accessible, then it is obvious the business will not do well due to low patronage.
Another threat to a business is inadequate funds. When a business owner does not have enough funds to manage the business, there is a high possibility that the business isn't going to do well.
Another major threat of a business is competition. I doubt that there is any business that doesn't have competition. One might think that he or she is the only one doing a particular type of business, only to be shocked to find out that there's another person doing something similar, located not far from him or her.

 

[eldavis]

Every business has its challenge or threat like you called it. As a business owner, it is expected that you find out these things before starting up your business. One common mistake most business owners make is that they tend to look at the profits alone. They search about others who are into that same line of business and all they search about is if they are making profits, how long it took them to make does profits, but they fail to also find out the number of challenges they must have gone through to get to that level or the difficulties involved in that line of work.