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a) Inappropriate initial skills of the owners/managers. (Most people once they save a little money just start a business in the line which others have succeeded without a full knowledge of the industry, the risks involved and the activities required. A case in point is the matatu business, hairdressing, dressmaking etc.
(b) There is general lack of entrepreneurship culture in respect to managers/investors. They may not draw the line between themselves and their business.
(c) Lack of financial and technological resources to sustain a small scale business—a business must be able to respond to market changes very fast. Small businesses may be unable to cope.
Titany answered the question on October 26, 2021 at 13:05
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