This is the cause of why SMEs often Bankrupt
Many small businesses or small and medium enterprises (SMEs) never survive up to five years. That's why entrepreneurs should know what is so fundamental error in the SME business.
Although the Indonesian economy continues to grow, but most SMEs do not have access to banks, making it difficult to obtain additional capital.
Due to limited capital, the business model should not be too much wrong. The new entrepreneurs run a business should really focus on the business in order to survive long.
There are five fundamental mistake that is often made by SMEs, as quoted by CNBC.
1. Do not Understand How to Prepare Financial Statements
Not enough just to understand the world of business, an Entrepreneurial also must be able to understand the financial health condition perusahaannya.Semua business decisions will be taken entrepreneurs are always in touch with the business cash flow and profit targets at the end of the year.
2. Assume A product may be sold by itself
No matter how good the product, will not be sold without someone who knows. To that end, build a customer base that understands your business.
3. Start a Business With Minimal Capital
Running a small business nascent provide many challenges that you would not have thought before. That is why it would be nice if you have access to sufficient capital. Because in the first few years of business models requires attention and considerable reserve fund.
4. Minimizing Things That Can Actually Profitable
When a business is not going well, usually direct employers create new products in order to boost sales. It is not wrong, because it can increase the turnover that has begun lesu.Namun, it will not last long and tiring, because not long should look for more new products in order to boost profits. When in fact it's a good business is a business that is focused on one or a few products only.
5. Want to Do Everything Alone
In a small business, everyone must perform tasks according to their expertise. At first it may do everything alone, but when it was starting to have trouble, please do not hesitate to seek assistance or a suitable employee.
Although the Indonesian economy continues to grow, but most SMEs do not have access to banks, making it difficult to obtain additional capital.
Due to limited capital, the business model should not be too much wrong. The new entrepreneurs run a business should really focus on the business in order to survive long.
There are five fundamental mistake that is often made by SMEs, as quoted by CNBC.
1. Do not Understand How to Prepare Financial Statements
Not enough just to understand the world of business, an Entrepreneurial also must be able to understand the financial health condition perusahaannya.Semua business decisions will be taken entrepreneurs are always in touch with the business cash flow and profit targets at the end of the year.
2. Assume A product may be sold by itself
No matter how good the product, will not be sold without someone who knows. To that end, build a customer base that understands your business.
3. Start a Business With Minimal Capital
Running a small business nascent provide many challenges that you would not have thought before. That is why it would be nice if you have access to sufficient capital. Because in the first few years of business models requires attention and considerable reserve fund.
4. Minimizing Things That Can Actually Profitable
When a business is not going well, usually direct employers create new products in order to boost sales. It is not wrong, because it can increase the turnover that has begun lesu.Namun, it will not last long and tiring, because not long should look for more new products in order to boost profits. When in fact it's a good business is a business that is focused on one or a few products only.
5. Want to Do Everything Alone
In a small business, everyone must perform tasks according to their expertise. At first it may do everything alone, but when it was starting to have trouble, please do not hesitate to seek assistance or a suitable employee.
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