Abstract
ABSTRACT The failure rate of small businesses is unacceptably high, and millions of Rands are being lost because of essentially avoidable mistakes and problems. The objective of this paper is to establish to what extent small businesses in a typical South African setting, experience selected problems as negatively influencing the success of their business. Judgmental sampling was used, descriptive statistics were established and a factor analysis was performed. Cronbach Alpha coefficients were calculated to determine the internal reliability of the measuring instrument. The following were identified as the most prominent problem areas influencing small businesses in South Africa, namely: economic factors, competition, socio-economic problems and change. Significant relationships were also identified. Starting a business is risky at best, but the chances of success are enhanced if the problems anticipated are understood and addressed prior to starting the business.
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