There is a saying that a journey of thousand miles start from a step. Every large scale businesses that someone sees around today started from somewhere. Somewhere from being a small scale business,then later on became a large scale business. A large scale business didn't just start and immediately became a large scale business.
What's small scale business?
Small scale business is a business that all it requirements come in small capital that make up the business.
A statement by Akiko Dangote, he said that, "I always tried to move up the food chain. I started with cement and then moved into textiles and banking. When I was trading sugar, I added salt and flour so that then we could do pasta. And then I thought, why not make the bag for it, too? So, we started making packaging.”
In addition to my point,we have a lot of small scale businesses around that haven't grown from being small scale businesses. They are in the same place they were as the business started. Some small scale businesses fail to grow while some have gone into liquidation. They no longer exist anymore. Some fo the reasons why some small scale businesses fail to grow are stated below:-
Ignorance: One of the reasons are ignorance, ignorance on the side of the owner of the business. Some small scale business owner have no clue or idea about the business they wanted to venture into. This may cause the reason why such small scale business doesn't grow or remains stagnant.
Copy-cat: It's very common in Africans. They like copying other people's businesses. They have no idea about it but since they observe and see the person is making sales,they would want to do the same business too forgetting how much time and enquiry it took that person to build his own small scale business.
Lack of innovation: Atleast you can even copy to do some kind businesses but some small scale owners lack innovation. We have a lot of small scale business owners around they copied someone business idea to start up their business but all what they do is they patch it up with innovation. You can copy any business but do something different,offer something catchy with different manners and approach.
