INTRODUCTION

For Financial growth and development, many factors can influenced it. Such parameters are very vital and necessary to be adopted for economic gain and prosperity.

Many entrepreneurs and business owners behaves in certain ways and view their enterprises specially which results in their growth and development. Over time, business and establishment needs the necessary care and services to be sustained so as to foster and grow.

Factors That Affect Business Ventures Negatively

As there are factors which are favorable for business growth, there are many factors that can affect it badly. Let's first discuss about them before we talk about the positive ones.

Much lies in the company or business's reputation, so guard it jealousy. Negative publicity can cause serious damage on the business and interests. In this advent of social media and blogging, many unprofessional and untrained content creators abound which their influences can create negative ripples on the business establishment. For example, a young blogger on web2 platform needs to grow her digital presence and viewer's base talks badly about tomato and vegetable products of one popular Nigerian company.

Unfortunately, It causes a serious blow on the market base for the products and company as many people deserted their company's products as one being infested with ants and cockroach and their services as unhealthy while the blogger's gathered more views and secured digital presence. When the blogger was caught and penalized legally, many people get to know the true story. Company regained their reputation and sales.

Negative publicity scares investors away and reduce the capital base for growth. Business and it's establishment have their investment potential that attract more shareholders and investors to their fold for more capital base for their greatness. Many companies and their finances declared bankrupt when negative arrows of the media punched them badly. For instance, Rick Ross, American Rapper and Music mogul makes some anti-semitic speeches and sentences mistakenly on the national television channel. Within 24 hours, many of companies that support his brand, starting from Nike withdraw their ambassadorship and support which forced him to make amendment and corrective means to salvage his career. This is typical example of the disastrous effect of negative publicity.

Poor financial management especially from the ineffectual leadership of the establishment can affect business and its growth. Poor financial decisions and strategies have multiple effects which affects businesses badly. For instance, one of popular grocery stores in my area collapsed and bankrupted as the son of the owner is a chronic gambler and can use his father's wealth (i.e, the store's capital base) for gambling and ponzi schemes of various types which affects the business empire badly and lead to its closure.

The drive and insights of the business owner and entrepreneur sustain the venture as it create more values and support for the growth and development of the business and establishment. As technology keep evolving, so the adoption of various skills and abilities for the growth of the business improves. But what will happen when the board of directors or business owner failed to adopt the new strategies and evolves, the growth and development of the establishment becomes stunted and inhibited. Many businesses that thrives and flourish for centuries ago can't compete with new establishments and companies due to the clear technological and marketing disparities.

Certain events can have disastrous effect on business and interests. Such events can be orchestrated by humans or natural elements but it's effects on business are badly. Examples like earthquake or wildfires can cause untold effect on business and establishment. Whenever they strikes, life becomes more important than everything else that support it including our vital and cherished business empire.

During the years 2019 and 2020, the world was shut down and locked down economically due to the spread of convid19, a dangerous disease that prove very difficult to manage but killed many people worldwide. Highly infectious and fatal so the best way to manage it becomes several forms of hygienic practices and distancing. Many nations sealed off their borders and limit movements to save their lives.

As many people survived that pandemic era, many businesses become affected badly and collapsed especially many business startups and small scale business. For instance, many private owned establishments like schools are affected till date as many of their skilled teachers and workers failed to resume with them as they were not paid or suffered miserably during that pandemic.

Political instability and war can affect business and ventures badly. Corrupt leaders and their collaborators are ready to truncate peaceful political situation necessary for business growth and development for their selfish interests. Botched elections and selfish political process can result to wars and insecurities which affects peaceful coexistence and unity for business growth. For instance, wars and insecurities in Ukraine and other part of the world are result of political maneuver of insensitive political leaders which affects businesses and it's growth.

Finally

Being Financial Literate means to take into consideration of all the factors which can affect our business growth and development badly and proffer adequate solutions to them. With such knowledge, our business and company will thrive and grow despite the bad effects of such factors especially the natural and sudden types.