Startups in a Nutshell
Over the past decade there has been an international boom of startup business, transforming the international business marketplace. There are millions of new startups each year, but the overwhelming majority of them fail to last. However, it is important to keep in mind that the possibility of failure is an accompanying risk to any new business, it is an inherent part of the definition of a startup.
Startup is best defined as “an institute, created to get a new service or product, which is looking for high potential business model and is developed in extremal and unexpected environment”. This is to say that, if the right business model is chosen by a startup it will have a chance to succeed, if a poor business model is chosen, then it shall fail.
The number of startups worldwide increases significantly every year. However, approximately 50 % ail in first four years, 70 % in ten, and eventually a total of 90 % will fail. A 2018 study identified twenty core reasons why startups fail.
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