Small-scale businesses in Nigeria and other developing nations hardly grow to big businesses mainly because of lack of direction on the part of owners of the businesses.
Besides, they usually do not conduct feasibility studies before starting the businesses.
According to a survey carried out by Radat Business Logistics, a business consultancy outfit, 80 per cent of small-scale enterprises fail because of lack of business plan by the owners.
It is not only capital (money) that makes a business to flourish. An entrepreneur with a good outlook on his business can grow the business to a desired level with time.
Read More:http://www.punchng.com/Articl.aspx?theartic=Art201011041371939
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