Challenges faced by entrepreneurs in Kenya

  

Date Posted: 4/17/2012 2:43:16 AM

Posted By: sashoo  Membership Level: Silver  Total Points: 382

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The challenges faced by entrepreneurs vary with different stages of the enterprise. The stages and their respective challenges are as outlined below:

1. Business Start-Up Stage:
This is concerned with two main aspects - financing and identification of relevant information - as stated below:

• Financing
All entrepreneurs are also faced with the challenge of financing their entrepreneurial ventures. Even corporate entities are usually faced with financial hurdles within and without. So, unless the venture capital comes from ones own pocket, getting money might be a challenge that may require one to prepare funding proposals or applications to be presented for loans and other forms of financing.

• Identification of Relevant Information
There is so much information written about stages of an entrepreneurial venture that ranges from starting a business, sorting the right part from the bad part, e.t.c. - this is all an overwhelming challenge in and of itself.

2. Implementation Stage:
The implementation stage seems to be the real make-or-break point of an entrepreneurial venture. It is believed by some schools of thought, that part of the problem at this level arises from the fact that people who ideas and people who implement the ideas are extremely different breeds of people. This has, however, not been established as the universal truth.

3. Operating the Business:
This stage involves management. Consequently, management involves ethics, leadership, growth, philosophy, and even the existing strategies of the company. These are much less tangible, yet they set the overall theme and direction that the business will undertake.

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