What are the common issues for small businesses?

There are a lot of debates about the common issues encountered by many small business owners. Katie Murray has suggested in her recent article “Small businesses need to roll with the punches” that there are at least 3 issues that most small business owners struggle with, namely lack of planning, marketing and access to capital.

Katie argued that “A business plan acts as a map for any business. Planning is essential for not only start-ups, but for established businesses as well. Most small businesses start out with a little to no marketing budget, so learning to focus on the correct target market is essential. Without capital, a small business can’t operate, and a lot of businesses don’t see the need for working capital or know what the requirements are to win approved for a loan.”

From my experience, a business or a marketing plan sounds daunting to the small business owners. It could be that those small businesses do not know how to start and do not understand how important of having those plans. As Katie suggested, preparing a business plan is a good process to go through. It makes you think ahead and you would most likely bring up potential roadblocks or opportunities during the thinking process. Additionally, once the business plan is prepared properly, it also helps the owners in the process of seeking sources of fund.

Do you agree with the three common issues encountered by small businesses? Did you have the same issues? How did you overcome those issues?


Coupled with Apivut's strong problem-solving skills and PhD-level education, Apivut is a professional with diverse and significant practical experience.. He is the Director of Market Intelligence at the largest hospitality company in the world where his area of responsibilities include, customer strategy management and operational support. Read more about Apivut's Bio.

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