short note challenges faced by entrepreneur in service sector. quality answer needed for 5marks in exam
Answers
The paper then summaries the challenger facing in services enterprises in many services sectors are characterised by large no of small scale suppliers servicing in local market
Short note on challenges faced by entrepreneurs
Time management
Entrepreneurs are people who are involved in a lot of business management operations.
Hence they need to take out proper time in order to supervise key aspects and important parts of the business .
Thus time management is a challenge for them , especially the ones who are involved in more than one business .
Reviewing markets
Entrepreneurs need to review and verify the markets very carefully so that they can be sure about the implementation of the business .
If the entrepreneurs do not review the markets properly , there are chances of great loss from the business especially because there are fraud users and cheats .
Calculating profits
The entrepreneurs should be aware of the amount of profit from the investment .
It happens that the profit is not enough to fulfill the needs of the entrepreneur .
In simple words the entrepreneur should know "where to invest" and "what to invest" .
Financial strength
The entrepreneur should be financially strong enough to start the business .
He should have the minimum capabilities to invest in the business .
He should have the safeguards by chance if he suffers from any loss in the business .
A financially stable business man will always succeed in the end .