People who are setting up manufacturing businesses tend to encounter certain challenges. We will be looking at the three biggest ones: that is, the three biggest challenges encountered by people setting up manufacturing businesses.
The first big challenge encountered by people setting up manufacturing businesses is (as would be expected) that of getting capital. And manufacturing can be very capital-intensive.
The second big challenge encountered by people setting up manufacturing businesses is that of getting the necessary equipment and skilled manpower to operate the equipment.
The third big challenge encountered by people setting up manufacturing businesses is that of getting markets for the finished products. To be sure, getting markets for certain simple products is easy. If, for instance one is making vacuum cleaners, it shouldn’t be too hard to get market for the same. If the flagship product is a vacuum cleaner for dog hair, one just needs to position it well, to ensure that it is among the first products encountered by anyone seeking to know what vacuum is best for dog hair. The same would apply if one was to position his product as the best handheld vacuum cleaner for cars. But if the business is dealing with complex products, like stone crushers, satellites or aircraft parts, then getting a market can be very hard, unless one has the necessary connections.