Question

Question for the class: For those of you who want to start your own business, what barriers have you encountered? In other words: why haven't you started your small business yet? What's holding you back? Give details of a scenario.

Answer 1

As a startup businessman we have to face too many thing.we can say these are barriers for running and setting up of small business.

lack of capital - if a businessman have small amount for set up a business then he can not invest in big project.Setting a business must requried big amount of money for resource.

lack of knowlege -if a business man does not have any knowlege that how to set up a business then its might be difficult for running business.

lack of technological advancement-A person who does not have advance technology are unable to continue its business.

Higher level of risk - when we set up business first time then we have to encounter with higher level of risk because no risk no gain.

Higher level of uncetainity -In business there were higher level of uncertainity.it can not be said that we always earn profits

high cost of promotional and advertising activity-setting up of a new business is big deal.hence we must have to pay more for boosting our business.

lack of innovation and creativity - in a business we must have a creativity for setting up a business.hence we have to think about innovation.

like if i want to set up clothing business then i have to pay more of capital goods etc.we have to focus about our budget.what is position of stock ,raw material etc.how many firms are there for competition etc.