Another week, another 10. This week, we would like to share an article about the most common startup obstacles. Perhaps, city managers could increase the chances of survival for small and thriving startups if relevant support was provided where needed.
According to statistics from US Census Bureau, an estimated 76% of small businesses operating in the year 1992 were still up and running until the year 1996. Moreover, based on US Department of Labor findings, only 17% from the small businesses in the year 1997 closed due to bankruptcy issues.
So if you are planning on setting up your own small investment, most definitely you wouldn’t want to be included in that slim 17% chance of failed business, right?
And for that, it would be practical to get yourself familiar and knowledgeable about the 10 startup obstacles you have to watch out to avoid yourself from committing common mistakes in this field.
#10: Underestimated Market Research
#9: Substandard Business Plan
#8: Insufficient Startup or Capital Money
#7: Compromised Pricing
#6: Awful and Poor Marketing Techniques
#5: Shallow Reasoning for Focus and Motivation
#4: Forgetting about Other Things
#3: Unmanaged Debts with Families and Friends
#2: Hoarding All the Work
#1: Lack of Credible Office Space and Location
To access the full article, check Silicon Canals.