Self-employment or Entrepreneurs are increasing the important of the economic growth and development. Now the recognized that the small firms are Ireland in net “net creators of jobs while the large firm sector is a net shedder of jobs”.
Now a days in our country even getting a low salary job is also tough where you can’t think about high salary job.
So rather doing a low salary job, most of the people like to start their own business and want to be an entrepreneurs where they can lead their own. Get the profits individually.
But starting a new business or be an entrepreneurs are not that much easy job, they face various kind of challenge for being an entrepreneurs
Some of common challenges faces the entrepreneurs are
Cash Flow Management:
As being an entrepreneurs you starting your business single handed firstly you have to think about the fund that have you enough financial support to start a business or be an entrepreneurs because cash flow is very much essential for your business.
Hiring is another challenge for entrepreneurs. The hiring process can take several days. Taking the resumes, reviews the resumes calling for interview and after all this find a diamond from the so many unqualified candidates it tough. If you got the diamond candidate from the unqualified candidates, now you have to give him attractive package. Although it is challenging for entrepreneurs.
Time management may be is the biggest problems faced by entrepreneurs. As a entrepreneurs they wear many hats (all the responsibility) and have to maintain and complete all the task in a decent time which is tough.
Select, what to sell
It is the important thing and also a great challenge for the entrepreneurs. After solving above problems, now come to the very important thing that is what you will sell? If you couldn’t select any effective product you’re going be in a great problem so you have to think very carefully what could be your profitable product.