It is estimated that 40% of small traders have to close their business in the first year itself and 50% of traders are unable to run their business for more than 2 years and they have to close their business. This is a very sad truth. Becoming a businessman is a struggle in itself. 90% people lose their courage within 2 to 3 years after seeing the competition. This also cannot be taken to mean that he is not capable, but it happens because of his circumstances, financial position.
75% of merchants have to face loss due to not maintaining their account properly. If you do all the accounting work by yourself like tracking transactions, generating GST reports, accounting for transactions and many such difficult tasks, you will have trouble. A small businessman cannot handle the burden of marketing, nor can he promote his business in an open manner.
There are many consultants also available in the market today who can help you even in low fees. These consultants can fully assist you in rebuilding your business by creating a great structure with their experience. The speed with which online sales are increasing, if not today or tomorrow, it will become very necessary for the growth of business. Ajay Pathak, who is a full time business professional working under the name of Neev Consultancy, tells for online that it is the most need of professionalism in business. He has helped a lot of small and medium businessmen to become successful online. Growth in sub-segments is a matter of growth online but with expert advice. In Garments, online has become a big fashion trend.