Six reasons some hold-back from starting business

It is difficult very much to establish the number of persons that run business. Though it is true that people are expected to register before they can start business in any country, the law does not apply to every kind of business. 

There are very small scale business; certain kinds of sole-proprietorships that does not require registration to start. So, if we succeed in getting the data on how many businesses are registered, we still cannot know just how many business there are, because we may remain ignorant of the ones that are not registered. 

But we know one thing, which is that the ones in existence are very many. There are more than thousands of thousands of registered business in every country.

 You would find in every street in every place in every country one business or the other in the form of; shops, supermarkets, malls, plazas, etc. 

So numerous are they, you may not be able to number them. 

That businesses are many, is indicative of one thing, which is that people embrace it. Yes, humans embrace business. So many are business owners. Those who own it usually encourage those who don't to build one. In schools, teachers teach students to build business. There are so many sermons encouraging people to start business. 

Despite the fact that it is something that so many have indulged in, there are many that have not. It is not because they are not capable. They are very capable. It is also not because they have not been encouraged to, or lack knowledge on the importance. They do have the knowledge of the importance. Infact despite the fact that they see others run it, they are not motivated to. They choose not to. 

We wonder why such ones refrain from pursuing business. We want to know. Why would someone not embrace this very venture that has been embraced by almost everyone? 

There are reasons for that. There are reasons why some may choose not to pursue business. We want to talk about them. 

               1. LACK OF INTEREST 

Except one has interest, he cannot commit to an act. If you are interested in doing anything at all, you would utilize the opportunity to do it. You would pursue it. When it seems difficult to, you would not stop until you devise a way to indulge in such a thing. 

But when you lack interest, there is no way you can pursue something. 

Some people who have not started business refrain because they are not interested. The reason for their disinterest varies from person to person. Such people would never start business if they have not developed appetite for it. 

Those who do, are wise not to. They know that the only way they would make sacrifices and take the steps that is involved in business is if they are passionate about it. 

Business requires so much effort. And only when people are passionate about something do they give their best to it. If they are not passionate about business, I doubt they would give it their time and even resources. 

Business interest is like hunger. You would want to eat food when you are hungry. But even the most tasty or delicious of food, you would not eat when you have no appetite for that particular food. 

The person that lacks interest in pursuing business, is like a Goat that finds grass to be bitter. No matter what the Goat would not eat grass. Likewise, no matter what the person would not start business; it is not a sweet thing to him. For if it were sweet to him as grass is to Goat, then he would eagerly want to start a business, just as the Goat zealously wants to eat grass.

I would like to say that most of the pursuit we engage in are usually based on our interest. Think about that person who pursues a career as a musician. It appeals to him to be a musician, and so he took steps to. We wear cloths based on our interest. We eat based on our interest. I mean everything at all.

Without interest therefore no matter how one is encouraged he would never start a business. If we try to make someone that lacks interest, to pursue a business, we would be like one trying to force a Donkey to drink water. 

That very proverb on the impossibility of attempting to force a Donkey to drink water, clearly illustrates the folly of expecting one not interested to start a business. Now answer this question personally. Can you start a business if it does not interest you? The answer is no. And since you agree that you can't, you also accept that lack of interest could be a reason why some will hold-back from pursuing business.

                2. FEAR OF FAILURE 

History is replete with the records of those that succeeded in business. They are celebrated the world over. They encountered challenges but succeeded. They succeeded not simply because they wished, but because they did things differently which made a difference and impacted on the growth of their business. Such ones succeeded, setting the antecedents for those that would ply business. 

Everyone that wants to pursue business aspires to be like them; to be successful. 

It seems that they could. The successful became successful by applying the methods they took which aided their success. Implying that whoever took those steps they took could achieve success. 

Success in anything is like a route. When you follow the right route you would surely find it. Since a key unlocked a padlock it could be used to unlock it again. I mean a formula never fails to lead to the solution. When you use it, you would always get a solution. 

Since the key to success is imitation, some wisely choose to imitate the successful ones. The result is success. Many have achieved success in business because they took the very steps that successful ones took. 

The pages of history is replete with the records of those who attained to the greatest heights in business because they applied the business wisdom they had learnt from their teachers, drawn from the experience of successful business men. 

The success in business of the imitators of the successful, attests to the fact that success can be attained in business, and that through the steps the successful took one can make a difference in this pursuit, motivating anyone that aspires to be successful to do the same.

Not all who start business succeed. Some who made the best their mentors never succeeded. Some who made wise choices failed. 

Some were not lucky enough to succeed. Some failed due to circumstances they expected not.

Business is like a test. When people write a test, not all participants would pass. Some would surely fail. 

No one can tell whom would fail at an endeavour. No one can forsee it. It could be anyone. Even those adept have failed before. Those who are yet to start a business know that since anyone could fail, they are not guaranteed automatic success if they start business. They could fail. 

But they do not want to fail. This very fear has made some to refrain from starting a business. Failure in business is sometimes almost impossible to heal. Sometimes starting business requires securing capital through loan, which is sometimes difficult to repay in the event of failure. Sometimes the collateral for it are taken by the person that gave the loan, and the person has no way of getting it to repay. 

Who would want to start a business and fail? Business is like a risky adventure. One could succeed or fail. Some people want more than an assurance that they could succeed based on the success of others in the past. They want a Jesus' kind of assurance, which is prophetic; a perfect guaranty that they must succeed. 

Void of the guaranty, not certain of success and fearing lest they fail, some choose to refrain from starting business.

3. IGNORANCE OR DISBELIEF IN THE PROFITABILITY OF BUSINESS

Business is very lucrative. Majority of the billionaires secured their wealth through business. Business offers one the prospect of monetizing products or services he would make his niche and drawing revenue from the sells. 

Many found the prospect of making money through business tempting, and seduced by this prospect resorted into business to derive the benefits. 

Wealth is to men, what grass is to Goat. You would agree that there is hardly a thing that Goats appreciate more than grass. They cannot refuse to accept it if you offer it to them. 

Likewise men have very high appreciation for wealth. It is one of the utmost values. No man can resist wealth. Offer men wealth and they would accept it. 

If there is a route to wealth all men would ply it. Infact the routes men ply the most are the ones that leads to wealth.

Considering how much men like wealth they would pursue business to acquire it. But that is only if they are aware of the possibility of making wealth through business. For if they are unaware, how could they embrace business? They cannot ply a route they are ignorant of. Thus lacking knowledge of the monetary benefits of business, they are not motivated by the very knowledge or fact that could motivate them to want to start business.

Some have heard that business is lucrative. But they are like Thomas. They want more than just claims. They want evidence. Or they think that the wealth that could be acquired from business is exaggerated. This lack of evidence and desire for direct evidence makes them to have dis-belief in the theory. 

Such ones too, are void of one of this particular factor that could motivate them to start a business, and if nothing else moves them, they may not resort to business.

4. DISCOURAGEMENT FROM OTHERS 

Whatever you want to do, you would receive both encouragement and discouragement. Some would tell you to pursue the act you want to. Others would tell you not to. So is it applicable with business. Perhaps because they feel that your chances of success is low, they may discourage you from pursuing business. Or because they think it is wise for you to pursue another career instead of business, they may discourage you. It could also be that they feel that the time you want to pursue it is the appropriate. Whatever is the reason, they would tell you. But one thing is certain, which is that not all would support you to pursue business. 

Due to the discouragement, some may choose not to pursue business. They may feel that there discouragers are correct, and choose not to pursue it. 

            5. LACK OF EXPERIENCE 

Some may want to be directly involved in the management of there business, if they would own one, due to any reason at all. They may have discovered how certain persons whom were entrusted with business betrayed the trust of those who entrusted it to them, by mismanaging. And thus would not want to be completely independent of the management of there business. There is no way that they wouldn't get accurate data on the happenstances of the management if they are directly involved. Or they may have discovered that being directly involved in management helped certain others achieve what those whom were not involved achieved, and thus choose to be directly involved in management. 

But they may lack managerial skills. Desiring to manage a business does not make someone qualified to do so. It is like desiring a job. Simply because someone wants to work, doesn't mean they are qualified, does it? Lacking this very skill, they may choose not to go into business. They may choose to hold on until they acquire the skill, or never go into it at all.

              6. LACK OF CAPITAL 

Every business requires capital to start. Capital is defined as the original funds used to start a business. All the money used to take the steps that brings about the existence of a business. If you want to start a bakery for instance, you would need a space where you would build a bakery. You need bakery equipments. You need to contract constructors to build the company. You need also to register the business. Achieving all if this requires money, without which it is impossible. Capital is therefore a business startup necessity. When you lack it, you cannot start business. When you have it, you can use it to start a business. 

All those who started business did so with capital. Whenever you talk someone that you wants to start a business, they would ask you if you have the capital to do so, implying that it is a requirement. Business advisors or counsellors are very many. And all of them would always tell you to secure capital for business. It has been prescribed and considered an essential element in the formation of business. Why is it that those who want to start business always tries to secure capital? Is it not evidence that they consider it a necessity in establishment?

When for example Dangote wanted to start business, he secured capital from his Uncle. With the capital he began importation of agricultural products into the country. How could he have started importation without money? He needed to buy the items with money. He needed to pay for importation dues. And he needed to pay for the shop where he would keep them when he brings them into the country. 

If you want to start a photography business for instance, you need basically; Camera, editor, computer, and printer. Buying all of those requires money. With money you can buy them and start business. Don't forget that in some places you may even be required to obtain license which requires money. There is no way you can start the business without money. 

Any business at all that you can think of requires money to start. There is no kind of business that has been started without money. 

Since it is a necessity someone who wants to start a business would want to get it, in order to fulfill his dream. Every one desiring to, always wants to start a business with capital. But not all possess it. The capital required to start certain business are sometimes very high, beyond the purse of those desiring to. Lacking, some choose to acquire it through loan, but securing loan too is difficult, sometimes impossible to achieve. 

Until they get capital some may not pursue business, since it makes time incapable, but instead refrain from pursuing it.