The Challenges for Business Start-Ups
The Challenges for Business Start-ups
Report
TERMS OF REFERENCE
The main aim of this report is to discuss or describe the different challenges which are faced by entrepreneurs when starting a new business.
Methods used by the entrepreneurs to start-up a business. Some rules:
Learn about your market
Write a business plan
Create a ‘business legally
Get proper funding
Find business premises
Buy the right tech and equipment
Developing products and services
Distribution
Recruiting staff
Advertise and market your business
Getting paid
Even with those rules there are several issues which need to be tackled, some of them are outlined below:
Low funding
Bank Issues
Low private savings
Low outside investments
Low experience issues
New in business
Legal Issues
Legal Restrictions or limits
Intelectual Property (IP)
Dealing with Competitors
Small business Network
New business
Management
Employee Management
New product
Untested market & Low consumer reliability
Higher Risk
BACKGROUND
To understand the challenges businesses face during their start ups, it is important to understand the different start up methods used by those entrepreneurs. Although every business and their start up methods are different in style and execution but there are few golden rules which most of the businesses follow:
Learn about your market
Market research is one of the most essential steps which need to be taken before setting