Ask What are the challenges faced by startup business in West Africa?

[Btaliat]

It is challenging starting a business in some part of Africa. The large businesses always try to stiff with the small business. Aside this, most customers do not really trust the startup business. They always prefer the already made business.

Government sometimes do make some policies that are not favorable to the start up business. Examples may include not giving them access to loans and as well. What do you think? Share it below in the comment section.

 

[Newman]

Most of them are faced with stiff competition from big companies. Apart from this, no companies always ready to borrow them money. Making money of them to die naturally death since no money or enough money to make them survive some competitors issue they may face.

 

[Dean101]

Getting money is a big problem because banks don't easily give loans and investors are hard to find. Power supply can be very unreliable, and bad roads or slow internet can slow work down a lot. There's also the stress of dealing with government rules, which can be confusing, slow, or change without warning. Finding skilled workers isn't always easy either, and good technology can be expensive. On top of that, the economy can be unstable, and currency value keeps changing. Still, many startups keep pushing through these problems by being creative and flexible

 

[Newman]

Majority of them could not secure loans form the government. They are not given loans because they may not have the needed collateral that they can you to secure the loan. This makes the lack of loan to kill their businesses most of the time. Another one is not giving them conducive environment to business to strive.