Challenges Faced by New Entrepreneurs and Suggestions How to Overcome Them
- DOI
- 10.2991/assehr.k.200921.037How to use a DOI?
- Keywords
- Mobile application, university students
- Abstract
All entrepreneurs especially the new entrepreneurs who are yet experienced in the business field, will have the tendency to face various challenges on their road to success in this field. Based on this, this paper sheds light on the various internal challenges as well as the external challenges that will be faced by the new entrepreneurs. Apart from that, this study also aims in identifying the possible suggestions that can be used to overcome those challenges. A review of secondary data including online journal articles and publications were used to gather the data for this study. From the study conducted, it was found that developing business idea and vision, raising capital for start-up and finding the right business location are the among common internal challenges faced by new entrepreneurs. As for the external challenges, new entrepreneurs are found to frequently face challenge in the form of competition, unforeseen business challenges and others. Besides that, the study’s findings have also revealed several suggestions which can help to meet those challenges faced by entrepreneurs such as being optimistic towards the challenges faced, expanding the idea and vision to potential investors and so on.
- Copyright
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Eng Yi Fong AU - Mohd Khata Bin Jabor AU - Abdul Halim Zulkifli AU - Mohamad Riduam Hashim PY - 2020 DA - 2020/09/22 TI - Challenges Faced by New Entrepreneurs and Suggestions How to Overcome Them BT - Proceedings of the International Conference on Student and Disable Student Development 2019 (ICoSD 2019) PB - Atlantis Press SP - 223 EP - 227 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.200921.037 DO - 10.2991/assehr.k.200921.037 ID - Fong2020 ER -