Why somali businesses fail? Draft-1

I found my self unable to articulate my feelings about the bitter findings in Somali businesses epecially in Mogadishu. I looked the situation in a way that I can affect positvley and the best option became at least cummuincating to others and more imprtantly its fact-finding technique.

It was early morning after I woke up and started working as an accountant @Habraac accountancy and training center located in Bakaara market.

Personally, Bakaara releived me the worries of being un-technical student in my field of long studying. Thousands of people go early and feed themselves as well as those financially dependent on them. There is also plenty of advantages that bakaara contributes the overall economy, but in my article I want to focus on the other hand of the coin that is its disadvantages and chalanges on the economy as well as its self. Its made different catogiries from various angles.

ACCOUNTANCY!

One of the most overlooked foundations of any small business is the need to hire an accountant. Of course, many small business owners and entrepreneurs believe that accountants don’t need to be on the scene until their business is in a stronger financial position, and while this statement has some truth to it, it’s not entirely accurate – you can find it helpful Advice on hiring an accountant here.

On this spot, it is not SME but large businesses. I have shared good advice to some owners, Many critics have objected to the proposal on the grounds that it would be too costly. I wonder and stay shocked and responded one last question to the owner, how can you evaluate your business during a given period " month" or "year" ?

He said, " it doesn't matter now but I'll try to have this when the business stronger than now.

A few months later, I received unpleasant message. CAN YOU GUESS? That day I had no idea what was happening! To be honest the man, conversing with him earlier, got bankruptcy due to misnanagemet of his bunisesss. He was ver good person and jokes with me while we meet but fact comes and from that day it was embarsaing to me to look his face.

Good enough he is now doing his best times and recovered most. This is just an example for how our somali peopole don't practice accounting.

Beyond that man, I've experienced many other businesses which failed and more other which are on the brink to fail. I Advice to all startups to priortoze hiring accountant first. There could be adverse opinions but remember always the fact is on option. I'll consider you, as a reader.

Structural challange

Shape matters as it is the key facilitator of any transactions and also enabling the efficiency of the market. Beyond Market's map barrier, there is also very small businesses close the highways.

One day I was very late to somewhere in the market. As I try to hurry up, each road is closed by indivuals who carry clothes in order to sell. SO

If a container wants to go through that road, is it possible to? Not possibly, in the light of facilitating transactions it has become big challange.

Lets capture just a second a situation which the streets were smooth, the containers are coming out and in, taxes are paid formaly, all these will result expansion of economics and sustainable growth.

Here, i displayed the least variables that the market is handling. Many things are on the way.

This is my first draft and there are a lot left. 

If you have any comment, please share with me on the comment section kindly.