What Impedes You From Setting Up A Business?

[Kendy]

There are many challenges that comes with setting up a business and one of such challenges is lack of capital for adequate funding. Some potential business owners have a feasible business idea but improper means of funding stands as an impediment. There are so many other challenges in setting up a business and it could be from; lack of motivation, lack of proper location, lack of experience. However, it is not possible that everyone must operate a business.


There are people who are not business inclined such that they prefer white collar jobs. Lack of motivation could also be a barrier to setting up a business, this is because, when a business owner is not passionate or motivated in his line of business, he would find it very difficult to withstand any challenges that comes with it. Inability to find a proper location could also be an impediment in setting up a business. The location matters a lot in any business, when you set up a business where you can easily locate your target audience, then, it would maximize sales and sustainability. Inexperience is also a factor that impedes the setting up of a business. What are the impediments to setting up a business?

 

[Rachael]

Well, I have set up a business although it is still in its growing stage and operated on a small scale basis. I have just a partner and we share the dividends after each work because it is not like we get contracts everyday. There are sometime we have to stay for like tow months without a single job offer. This line of business has been very tacky and stressful because there are so many people who are operating in this line of business, which makes it very competitive. There are many factors which can impede the setting up of a business. Such cases are; lack of knowledge or experience. When an individual lacks the knowledge of starting a business, it becomes very hard and such individual would likely not be motivated to venture into any business because knowledge and experience is an essential tool in operating a successful business.

Lack of funding is always one of the major barriers in starting a business and some people do not like the idea of obtaining loans because of the pressure it is coupled with. Lack of proper management skills is always one factor that impedes setting up a business. There are some people that are well aware that they cannot manage their finances and this stops them from setting up a business. Government regulations is also one of the reason a business might not be operated. There are some stringent terms and conditions by the government and these rules affects the success of business growth.

 

[Lens1000]

So many people are not motivated to set up a business because they do not want to take a risk. Setting up a business is all about risk and this is what they do not want to do at any point in time. The best thing for such people is to learn what they called risk management. This will further increase your strength in the creation of business. Most of the wealthy people in the world today took risk and that is why they are where they are today. If you're not willing to take a risk , it is possible that you will remain poor for the rest of your life.Elon Musk of today, took a very high risk before he could make that huge amount of money that he has now.. another factor that impede us from setting up a business is capital. If you do not have enough capital to run a business, the business idea that you got is as good as dead. This is why capital is very important in setting up a business and it should be considered first. For those who do not have enough capital to establish a business, you could take loans from banks to put your plans on the go.

 

[Sotherefore]

For me , I don't really have any problem or hindrances in starting a business , the most important reason why I cannot establish a business is because I am not ready to establish an offline business now and probably that is the reason I do not have enough money to start up a business. I believe there will be a time in which the interest to start an offline business will comes naturally. For now I am mostly focus on setting up a good online business that can generate me profit everyday.
To some people there may be reasons why they cannot start up a business , it could be a location factors because naturally some locations may not be suitable to establish certain business. . For me personally my location is good and even if I have to establish a business , I will still do it here in my location without any problem.