- KredX Editorial Team
- 23 Sep 21
- business

Whether a new start-up or an established small enterprise, all SMEs face some critical challenges while trying to sustain in the competitive business space. Regardless of the industry you want to establish your business in; every self-starter agrees that the process is hard, especially at the early stage.
In fact, as per the U.S. Bureau of Labour Statistics, around 20% of all small-scale businesses fail to sustain by the end of their first year. The same source stated that by the end of the fifth year, around 50% of these businesses go under. Accordingly, it is in the best interest of SME owners to identify the most prominent small business challenges and ways to overcome them.
Here’s more on the subject.
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Finding Right Customers
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Finding The Right Team
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Limited Financial Source For Their Business
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Difficulty In Maintaining Profitability
- Reduce operational cost
- Increase the turnover
- Increasing productivity
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Increasing Revenue
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Establishing A Digital Presence
- Focus on PR management
- Consider Co-marketing
- Running consistent and high-quality blogs
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Fail To Identify Key Performance Indicators
- Business goals and objectives
- Current business stage
- Tools used to track your KPIs