A well-organized Entrepreneurial Ecosystem provide and help the startups to maximize their potential and develop successful business. Check out this guide that will help you to counter challenges faced by Startups with the help of entrepreneurial solutions.
Top Big Entrepreneurial Challenges faced by Startups
Inspiring new talent
- Interaction with successful entrepreneurs
- Media coverage of successful founders
- Academic symposia and meet up for entrepreneurs
- Co-working spaces as ideation opportunities
Knowledge resources in business for startups
- Tech meet up
- Startup boot camp
- Libraries for startups
- Entrepreneurship development Centers
- Mentors and professional experts
Capital for business Startup
- Websites like kickstarter.com
- Startup competitions
- Angel investors
- Venture capital firms
- Family and friends
Accessing talent
Acquiring customers
- Networking events like conferences and trade shows
- Local press coverage
- Civic authorities and trade organizations
- Other community members
Startup Exit Strategy
- Mergers and Acquisitions (M&A)
- Many startup owners like to be in the company even after selling a significant stake in it. M&A deals are the ideal thing for such companies.
- Initial public offering (IPO)
- IPO is one of the most lucrative exit strategies, as this strategy brings in good amounts of cash within a short period.
- Financial buyer
- Private equity firms and other large investors are continually vouching for promising startups. A financial buyer acquires the company's entire stake, allowing the owners to relinquish the company's control.
- Financial Buyer
- Recapitalization
- IPO
- Liquidation
Lack of infrastructure and bureaucratic hurdles
In many startup ecosystems, the regulations favor the incumbents over new entrants. The thing is that the bureaucracy has not kept up with the requirements of the startups. Another common issue is the multiple agencies looking after entrepreneurship development, which act as a roadblock towards a more agile ecosystem.
With the rise of Uber, there was a new problem. Are Uber drivers independent contractors, or are they employees of Uber?
The gig economy is rising, and new work realities make it difficult to ascertain new age workers. The outdated labor regulations are acting as a hindrance for entrepreneurs.
Thinking of a Startup? Don’t Dare Without Reading This!