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 KCSE business studies paper 2 revision questions and answers set 2

Explain five challenges that may be experienced by a new entrepreneur who is intending to establish a business in Kenya.

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Answer Text:
-Inadequate capital/funds to sustain/run due to lack of collateral to meet the running cost
-Inadequate skills to operate the business properly
-Unfriendly or poor government policies such as high taxes which are unfavourable to the growth of the business
-Inappropriate technology which may result in less quantity/poor quality products.
-Inadequate market due to incomes of buyers being low and also due to cultural practices and behavior
-Unfair competition from other businesses