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What are the startup challenges that await founders when they start their venture? Starting a business is fun until everything starts going south. In this article, we will debunk the common challenges that most startups face globally. As a founder, you might face some or all of the challenges that we are about to discuss.

Introduction

Before expounding on the startup challenges faced by most businessmen and women, let us first break down what a startup is for our visitors who are new to the topic: A startup can be defined as a business in its infant stage or early days. In addition, these businesses are yet to break even or are not generating revenue. Mostly these businesses will depend on the business owner’s capital or getting funds from venture capital firms.

Why do startups exist?

Well, now that we have the definition of startups out of the way, let’s discuss why we need them in society, shall we? Startups play an important role in innovation and advancing technology that helps humanity in general. Thanks to startups, we have better healthcare, better education, advanced methods of farming, and many other innovative ways of carrying out our day-to-day activities. However much startups tend to make our lives easier, they also face a number of challenges as we are going to see in a jiffy.

Top ten startup challenges

Weak team with no rhythm

Weak ideas and lack of vision

Lack of funds

Discrimination

Knowledge deficiency

Poor networks and networking skills

Legal team deficiency

Fund mismanagement

Poor leaders

Ego…

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EliDay Juma

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3y ago

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