The top five challenges facing small businesses are: 

Lack of funds - While most larger companies have enough cash flow to keep up with payroll and keep the lights on, small businesses are often in a less stable situation. It's of the utmost importance that your cashflow is dependent on one or a few big clients.

Lack of time - You are the one responsible for executing business plans and winning new business, but you might also be answering the phones, filing the paperwork, and dealing with vendors.

Finding good employees - Small businesses account for 47.5% of all jobs But that doesn’t mean finding qualified, hardworking employees is easy. In many instances, your small business’ benefits package won’t be able to compete with what large companies offer.

Balancing growth and quality - In many instances, you have to make the choice between working long hours—and asking your staff to do the same—or finding ways to cut corners. Ultimately, you will have to find a way to grow your business without hurting your business.

Ineffective web presence - The internet provides opportunities to find customers without breaking the bank, but many small businesses don’t do enough with their online presence. Large companies have entire departments devoted to online activities, but small businesses often struggle to keep up with all the ways the Internet can help—or hurt—business.