The number of small business in Australia is increasing rapidly every year which helps to provide employment opportunities to large number of people. It is challenging for small business to survive in competitive business market. The main problem faced by small business is financial constraints and lack of expansion.

List of the Challenges Faced by Small Business in Australia

The challenges faced by small business in Australia are as follows:

1. Lack of proper marketing plan and strategy
2. Not finding customers from whom they can benefit their business
3. Lack of skill of managing cash flow
4. Hiring right people is also the challenge
5. Growth of their business

There are various reasons behind the failure of small business. Some of them are listed below:

1. A lack of proper business planning is the main reason of the failure of small business.
2. The business owners doesn’t have enough funds to run their business for a long term.
3. They doesn’t have much business experience which results business failure.
4. There is lack of proper cash flow planning with a proper understanding of market conditions.
5. Owners make mistake by choosing the poor location for their business.
6. There is lack of proper marketing plans and effective sales.
7. They may fail to manage and control their business budget.

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