The biggest barrier to business growth is fear
Professionals, bureaucrats and corporate people believe that they are able analyse the ‘barriers to business growth’. You will see them talk about rules and regulations, planning restrictions, poor transport infrastructure, lack of funding and lack of skills as the five main reasons why businesses fail to grow.
These are indeed problems in business. They are frustrations. If asked, that is what most business people will say is the reason for lack of growth. What they are saying of course is “please remove these obstacles which make my life difficult”.
In reality these are mere obstacles, the like of which we put up with every day in business.
The truth is that it is our own fear which holds us back more than anything. Business is about taking risks, and when we take a risk we accept that we may fail. Fear of failure is paramount in holding back business growth. Fear of the unknown is also huge. People fear taking on their first employee as they are not sure the business can take the extra overhead; they fear taking on their first premises as they are aware landlords hold the power and can abuse them; they fear contracts with large organisations who may exert control over them.
Professionals, bureaucrats and corporate men will never fully understand this concept because they never have to face these fears. They are protected by the comfort zone of the organisation they work for. They never have to face potential financial calamity with every decision they make.
These are the real obstacles to growth. As mentors we see this in every session.
Real growth in the UK will come from the micro businesses. Helping them to face their fears is the purpose of mentoring, and we do it well at Jennings Business Mentors.