Challenges Faced When Starting a Small Business

  1. Estimating market demand
  2. Estimating start –up capital and operating expenses
  3. Meeting collateral requirement – obtaining money to adequately fund the start –up
  4. Meeting legal requirements
  5. Financial institutions are redundant to lend to start –ups
  6. Identifying reliable source of supply
  7. Lack of entrepreneurial skills, business management skills and technical
  8. Selecting a suitable business location
  9. Deciding on the type of business ownership

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