1. Difficulty in getting funds

1. Difficulty in getting funds

Strict conditions by financial institutions make it more difficult

for the entrepreneurs to launch or sustain their business.

The financial institutions are skeptical to grant them loans

because the entrepreneurs usually do not have any collateral to

offer against the loan.

2. Lack of proper infrastructure

Image courtesy: brian-nagel.com

2. Lack of proper infrastructure

There is absence of basic infrastructure like regular electricity

supply, efficient telephone systems, developed water way and

well constructed roads which diminishes efficiency and

effectiveness of the business and increase operational costs.

This has resulted in shutting down of numerous local firms due

to their inability to compete with the foreign giants.

3. Numerous taxes

Image courtesy: therefugechristianchurch.com

3. Numerous taxes

Small businesses find it difficult to cope up with the taxes

levied on them.

Huge amount of taxes escalate the cost of running a business

and hence the young entrepreneurs struggle to sustain the

business.

4. Corruption

Image courtesy: www.entrepreneur.com

4. Corruption

This holds true for almost all the developing countries.

Corruption can make procurement of licenses, permits, and

other official documents difficult. The firms struggle to get

these important documents and are sometimes left with no

option but to shut.

5. No guidance

Image courtesy: designtaxi.com

5. No guidance

There is lack of proper guidance and formal training for the

entrepreneurs which is very important to launch and run a

start up successfully.

Training and education, along with the right exposure

contributes to an entrepreneur’s practical knowledge and leads

to developing their decision making skills.

Mara Foundation’s Ambition

We enable, inspire and empower ambitious entrepreneurs in Africa. With the support of our Mara Mentors we will:

Inspire millions of young people in Africa to become entrepreneurs.

Teach entrepreneurs new skills.

Enable entrepreneurs to turn business ideas into reality.

Guide business owners to grow businesses and hire (more) employees.

Empower entrepreneurs by providing a platform to showcase their business and build their network.

THANK YOU

Website: mentor.mara.com

App: iTunes, Blackberry, Android, and Nokia.

Customer Support: support@mentor.mara.com

Mara Foundation is supported by a number of partners, including: