QUESTION $1(20$ Marks$)$

As a consultant specializing in SMMEs management, discuss the common reasons for the failure of Small, Medium, and Micro Enterprises $($SMMEs$).$ Additionally, provide recommendations on how these challenges could be addressed to improve the sustainability of the venture.

QUESTION $2(20$ Marks$)$

Discuss the important personal qualities that an entrepreneur should possess in order to successfully navigate the challenges faced by the group of friends in the scenario provided. In your response, identify and explain FIVE $(5)$ key qualities and provide examples of how each quality could be applied in the context of transitioning from craftsmen to effective business managers in their small business venture.