Ways to remove the causes of failure of Small Business

Ways to remove the causes of failure of Small Business

A business which is independently owned and operated and not in its field is called small business. A small business is one with few Manufacturing than 500 employees. A business which is usually organized and managed by the owner and or his family members. Management is generally defined as the position and organization of multiple activities in an organization.

Many startup businesses struggle with cash flow issues. These companies must maintain a balance between getting cash in the door through sales and covering their expenses. The following measures can be taken for solving the problems of developing small business in Bangladesh.

  • Supply sufficient capital;
  • Ensuring efficient management;
  • Removing of personal limitations;
  • Expansion;
  • Arranging training program;
  • Formation of the business combination;
  • Ensuring the supply of adequate raw materials;
  • Preparing a proper plan;
  • Arranging an easy loan facility;
  • Government patronization;

So, these are the various measures that can be taken for solving the problems of developing small business. Business failure because of poor preparation is totally avoidable. Once you know what kinds of planning you should do before you start your small business, it’s just a matter of enlightening yourself and getting it done.

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