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 Form 3 business studies revision questions and answers set 4

Explain five problems facing small scale businesses in Kenya

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Answer Text:
-Small capital. There is limited avenues of raising capital
-Lack of managerial skills. They have limited skills in regard to business management
-Lack of continuity. The business can cease to exist as soon as the owner dies
-Lack of division of labour and specialization
-Poor choice of business projects or enterprises
-Owner lacks the know how or skills to choose viable projects