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Six challenges faced by entrepreneurs.
-Under capitalization
Bank may not be willing to extend unsecured loans to companies due to the high risk involved.
-Mismanagement
The entrepreneur will often employ people to assist him manage the operations of the firm. However, if these people are not trustworthy, he stands to lose a lot of money through embezzlement.
-Competition Error
large established organizations that enjoy economies of scale
Rules and regulations Complex rules, regulations and procedures framed by the Government can pose a challenge to entrepreneurs
-Lack of raw materials
Unreliable supply of raw materials cans hinder production process in a manufacturing firm.
-Lack of skills and experience
If the entrepreneur does not have sufficient skills to manage his business then he stands risk of making losses
marto answered the question on January 30, 2019 at 07:29
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