6 Biggest Business Obstacles for Startups

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Are You an Entrepreneur

Since the 1st of June when it was posted on Forbes.com, more than 5,000 people participated in the, “Are You an Entrepreneur?” survey. From their response, it could be inferred that the interest in entrepreneurship is still alive.

What is the primary reason for starting a new business?
In response to this, 17.4% admitted to starting a new business because they had a great idea. 29.5% started because they wanted to be their own boss. 48.5% had the passion to be an entrepreneur. 1.1% started because they could not find a job while 3.5% had some other reason for starting.

To the question, “The biggest obstacle I see in starting my own company,” respondents claimed the following. 6.5% see finding a partner as a challenge, 3.4% had the challenge of training and education. 10.1% admitted to the feat of failing, while 1.1% saw health insurance ass the obstacle.

34.7% saw the challenge of knowing where to begin as the biggest obstacle while 36% faced finance as a challenge while 8.2% faced other forms of challenges.