Major Problems Faced By Businesses in Nepal
Political Problem for business investment in Nepal
Today the major problems faced by investment in business service in Nepal are too huge and not limited. The rise of global pandemic is affecting billions of people around the world. Business owners in Nepal fear to face their worst economic setback in history. People are trying to get back to their normal lifestyle. But, many businesses are still unable to fully operate in their normal business activities. Similarly, the political climate over the past recent months has been very tumultuous.
Thus, businesses are worried about the upcoming political instability in the country. Although the Supreme Court had denied the declaration to Dissolve the House of Representatives made by the Prime Minister. Business owners and entrepreneurs are still insecure about the political interference in the future.
Apart from these macro-level problems, most businesses also do face micro and other internal problems such as lack of finance, mutual trust, efficient manpower, technical knowledge, infrastructure, and many more. It is exceedingly difficult for businesses to get the appropriate financial resources to run a smooth operation. Banks require good security as collateral and need to have a good loan proposal with a proper feasibility study.
Likewise, mutual trust amongst the departments, different levels, and employees has also created a mistrustful environment in most organizations. It is important to identify efficient and skilled manpower. These manpower needs to get into top positions of businesses. This is a huge challenge for businesses.
The lack of technical knowledge or the absence of technical capabilities is a major obstacle in organizational investment and efficiency. Most managers or technical level staffs do lack the technical experience and competencies which leads to a huge difficulty in management. Similarly, improper or lack of infrastructure is another problem for investment in business service in Nepal.
Thus, organizations always require to have a proper strategy and a business continuity plan, that assist to tackle uncertain situations and mitigate the upcoming problems.