Difficulties in starting a business

Nowadays, the startup movement is developing very strongly. However, to succeed with their projects, those who implement them face many difficulties. Below are some common difficulties when starting a business that you can refer to.

Investment capital

The beginning of everything is always money, even a large amount of money. When deciding to support a startup, the first thing investors will do is consider the chances of success of that project. Therefore, although investment capital can be abundant, not every project will receive that capital.

Human resources

The human factor is the premise for success in every field. If your companions are inexperienced and lack expertise, your startup project will hardly succeed. 

When you first start a business, you won’t have much experience in solving problems effectively. In case you have a team working together, you will have to depend on the whole team if you want to succeed.

Lack of knowledge and experience

This is one of the problems that most startup projects encounter, especially in cases where the project owners are young people. Because the source of knowledge is endless, while new knowledge is always discovered every day. This is also the reason why startup projects, although springing up like mushrooms after the rain, are not very effective. 

In addition to equipping yourself with knowledge, learn more from the experiences of those who have gone before you. This will help young projects avoid unnecessary risks and failures.

You will not be able to use virtual numbers to convince investors to invest. Because, to get to where they are today, investors have had enough experience to grasp the development potential of the project in each stage. Because they were also successful entrepreneurs, they understand the difficulties in developing the market for their products.

Despite facing many obstacles that are difficult to list, startups are still the potential key to unlocking the development of the national economy, so they will receive much attention from stakeholders, especially startup investment funds. 

To facilitate the development of young businesses in the Mekong Delta, on March 21, FundGo was launched with the goal of supporting, sponsoring and investing in startups. This is the first fund in Can Tho City as well as the Mekong Delta region. The fund operates on the model of an Investor Congress, a Fund Representative Board and a Creative Startup Investment Fund Management Company.