As young entrepreneur what are those unique challenges I am likely to face in the contemporary business environment? Aside the capital which I have been able to raise a modest amount as start-up.
This was a question sent to me by my young cousin. I felt I should bring it here to draw broader ideas from different minds before getting back to him with words. Feel free to share your honest ideas and experiences.
Economy policies, that's what kills the dream of every startup. An entrepreneur can be successful today and then the next few years, he is out of business and most often when you check the source of the problem, it's usually because of economy policy that didn't favour them, they had to discontinued the business because they don't know how to continue the business most especially if the changes is coming from he consumers and not from you in particular.
Let's say for instance you produce an item that's has an alternative but because the economy policies is good that time, people are buying and you are making good sells but all of a sudden, the government made some changes people stop buying because they can't afford it, no matter how you adjust your model, if they don't have the means, they wouldn't come and buy again, they will for substandard ones and if you try to venture into it, you might run into losses because you are already have the good network of standard. Good economy policies means good business environment you know.