Pen2paper why do some Business collapse in their first 2year check out some business review

_{first lady in her shop} what3words

It is another beautiful day my fellow steemiains, how are you doing, am sure you are doing very well, am good on my side, I am here again to share with you some of the things I found out during my review of local businesses, why many collapse in their first 2 years, in this business review, I will take you to #3 sampson akpan street in Uyo opposite Timber junction close to Ring Road3 Oron road, It important you don't miss it as I am going to list out some point.

Reasons why so many local businesses fold or collapse in their first 2 years.

Now let us see what business is, from my research I found out that business is an organization of enterprising entities, it can be in a professional way or in a local way, some run it with profit while some do not, it could be a factory or industry, business also has plans which you as a business person must follow.

In this publication I am reviewing local business like food stuff or provision or fruit business, location is important in a business, first you need to check where you want your shop to be, for example you want to sell food stuffs check how busy the area is and existing business in that place, how many people that are living there and how busy the place is because if you start this type of business in a wrong location you may not make good sales in the business.

Can imagine how a retired teacher will run a big business in a shop that is in front of her house because she want to do business but do not know how the business works, do you think she will succeed? what of that nurse that open a provision shop because she thinks that they are doing well after her retirement instead of chemist shop. Many people go into a business without any experience of the business and the business is completely opposite of what they know how to do it.

It is not good to collect a loan to start up new business, loan is made for an ongoing business, many people go for loan to start up a new business and as a result they end up losing the goods in their shop because they are returning the loan weekly or monthly, before the will realize what is happening the money they paid for rent has expired and they find it very difficult to continue.

Do not employ sales girl when you don't have big capital in a business or when you don't have enough customers.

Consider this 3rd point of employing sales girl when your capital in a business is less than NGN 200,000 or 1000 steem, why you may ask, let say you are paying the person 50 steem every month and your shop rent is 15 steem every month, that is 65 steemset aside every month, now the big question is how much do you sell daily, weekly and monthly, how much is your transport in a month, your feeding, what of house rent, you will now see that at the end of the year, you are just running around.

See what happened to land of aboundant business in just 2 years.

_{selfie with the owner of aboundant shop madam Dorathy in her shop}

Me:How long have been in this business?

Madam Dorathy:This is 2 years now.

Me: Which of your goods do people love to buy on daily basis?

Madam Dorathy: People buy Fufu, Garri, maggie every day.

Me:Can I have a picture not them?

Madam Dorathy:Yes you can, this is just 2 years of the business, I made a mistake that I will never repeat again, I started this business with little capital and it was moving so I went to get loan to support the business when it was very young, for a year and 6 months now, I have been suffering, collect loan pay loan every week and before you know it, even my capital is nowhere to be found, I just told them that I will not collect another loan and they are begging me to o collect but is modern day slavery.

This is Fufu, she said she will count NGN2,000 every day and sell all, that is 10steem and each of the Fufu is 0.500 steem

She said people buy maggie every day especially star maggie and 6 maggie is 0.500 steem

_{she said Garri no get bad market}
4 cups of garri is 1 steem as of the time I reviewed her business.

_{She also sell egg, each is 0.500 steem}

Further discussion with the owner of the land of aboundance shop

I asked her how she plan to build up her business again since her rent will expire in 3 months time and there hass no money at hand.

She said, that one is in God's hand

I quickly use the opportunity to Introduce her to another life changing opportunity which with it she do not need to pay loan weekly but I asked her if she will be interested to know it, she said said yes am open to an opportunity that will help me, which business do you think I will share with her? Think

I told her that the business that am going to Introduce to her is not get rich quick and she may not earn because she is learning the business, she said, I am ready to learn first, that it is good to understand a business before going into it, I now shared steemit opportunity to her and she accepted it.

I helped her to upgrade her phone whatsapp so that I will add her to my training group, and promised her to come back again to assist her, what a lovely day with madam Dorathy with this business review full of great lesson to learn.

In conclusion do not go into a business because people are doing it or locate your business in a wrong cite or start a new business with loan as all this things has nagative effect on a business.