Analysis of the main problems in small and medium enterprises in Bogotá

Abstract

At the end of 2022, Bogota businessmen pointed out as the main problems for the normal development of their activities: 1. High cost of the inputs used, 2. High competition, 3. Lack of demand, 4. The exchange rate, 5. Difficulties in supplying raw materials and 6. Tax burden. The persistence of these problems over time can negatively impact the financial results of companies, leading them to eventual business insolvency. This article describes these problems in small and medium-sized enterprises (SMEs) in Bogota consulting different related expert sources to then suggest some useful strategies for decision-making by SME managers.