Challenges Faced by Start-ups in UK

This assignment discusses the challenges faced by start-ups in the UK, drawing from various studies and research papers. It highlights the importance of understanding these challenges to support entrepreneurs and small businesses in their growth and success. The assignment provides a comprehensive overview of the difficulties faced by start-ups, including winning customers and investors, raising funds, and scaling businesses.

Business and Finance

ABSTRACT
The present writing audit and entire task will cover essential piece of difficulties that are
been looked by new businesses while they are been engaged with monetary necessities inside
UK. New company firm or wander is that write which has been developing with its new changes
in thought and going for getting together all prerequisites of commercial centre so both
organization and clients are been profited by them. Organizations are getting themselves into
showcasing practice that too on standard bases then this would deal with in changing the items
and administration so client need could likewise be fulfilled. The fundamental explanation for
the disappointment of new businesses is their absence of advertising abilities they are having
smart thought and advancement procedures with them. This is prompting actuality that if any
firm which is recently begun then because of absence of monetary development or simple access
to advertise they could basically pulverize and came to twisting operation of there business. They
are confronting strict boundaries at time when they are raising their assets from showcase and
other main consideration could be that of absence of good advertising methodologies of firm.
Having qualified and talented work will likewise be useful for them as representatives are the
best asset which any business could be having or putting resources into. Other than these
crowdfunding, bank credit, subsidizing houses are some essential wellspring of subsidizing or
dealing with of the financing issues. There are numerous banks which would not bolster them
which in tern imply that they are not giving advance as they are either not finding their thought
commendable or they are not confiding in youthful business person. While then again they are
additionally giving advance according to the administration conspire that is constraining them to
give them bank assurances or overdraft offices as well.

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
LITERATURE REVIEW ...............................................................................................................3
Start up business.....................................................................................................................4
Their role in development of business in UK.........................................................................5
The challenges which are been faced by them in meeting financial requirements within UK.. .7
Overcoming these challenges of financial requirements......................................................12
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
2

To identify challenges faced by start-ups in meeting their financial requirements within United
Kingdom
INTRODUCTION
New company firm or wander is that write which has been rising with its new changes in
thought and going for getting together all necessities of commercial center so both organization
and clients are been profited by them. On general terms, it is said that new businesses are shaped
with new and improved thought which would in this way be empowering change in doing up
business inside society. This would include higher rate of disappointment which would
incorporate less measure of achievement that would help them in getting to be rich and bigger
firms later on. Inside the terms of UK, there are gigantic number of new businesses which are
been associated with setting up their business and firms so they could be enveloping into more
development and advancement of UK. Be that as it may, new businesses are confronting
numerous difficulties and issues which are reasons regarding why they have not possessed the
capacity to get together their monetary prerequisites. The present writing survey and entire task
will cover essential piece of difficulties that are been looked by new companies while they are
been engaged with money related necessities inside UK.
3

LITERATURE REVIEW
Start up business.
As per Hussain, Li and Scott, (2017) new businesses implies that organization which is
basically set up to distinguish different courses by which they could be set up into showcase yet
that too having new and enhanced thought with them. It dosage not imply that new company
would just b coming into little size just while they could likewise be incorporated into all
structures or size. The basic reason behind their evolution would be innovation and better use of
technology within market which will be helping them in involving better future growth. On very
general terms, starting up company or venture would not be an easy task as there are many things
and challenges which are involved within their setting up. Launching and planning of start-ups
could not be easy for any newcomer in market; they must be having experience of what would be
starting or thinking to do. Generally, they are having knowledge about their work but would not
be having any experience of it and thus, they could be taking the information about market.
Sampson, (2017) included that development rate or phase would be like that of formation,
validation and then growth of firm; this could also face the declining phase.
If the co-founding team of start-ups are very much attracted or well-known face within
market, then investors could be investing into these types of companies. Otherwise, they could
4

not be trusting any new company because of risk in investment and disruption into the
innovation or technologies of firm. Britain is regarded as hub of these start-up businesses as each
year, there are many business which are being setting up with their new ideas and innovation into
that. They are all providing customer base products so that more of them are attracted towards
company. Lilly, (2017) included that government are also assisting them at the time of
establishment of their business as they have been providing government with huge amount of
profits.
They are been entertaining themselves into offering great nature of items and
administrations to clients which is at the present terms the essential need to purchaser of items.
The proprietor of this sort of firms are ordinarily singular one who are just proprietor of business
owing and dealing with that association in solitude. From the whole of UK, in Scotland survival
rate of these start-up business is the highest which amount to almost 61.2%. While in the whole
of UK, overall success rate of these start-up businesses is about 53.7% which is more than other
nation of Europe. Within this, London is facing the highest number of start-ups each year and
because of which their survival rate in market is the lowest to about 50.1%.
In the year 2016 there were almost 660000 companies was established which in 2015 was
about 608000 only this was according to Centre for Entrepreneurs. All the start-ups would be
launched by the youth who are in the age of 18-25 years; they are all qualified and full of
innovative ideas that are making their companies to set up and run on faster phases. There are
various types of businesses which are been regulated and started by them under this
crowdfunding is also one of them as said by Somerville, (2017).
Their role in development of business in UK.
It was clearly included that these start-up establishment firms are giving so much in
development and growth of UK and this is remarkable. Within the country, start-ups are giving
about £196 billion each year in the total economy of UK. According to Wu & Eriksson Lantz,
(2017), it is noted that these businesses are doing very well within the country and contributing
so much; there are many things which have been included. In the report, it was also said that
about one third of the business of UK are start-ups only within the past 4 years and then they are
been engaged in giving huge number of employment in country that is about 3.24 million are
employed.
5

Arena, Calderini & Chiodo, (2018) said that about 12% of the total employment in UK
has been dominated by these start-up businesses only. This is likewise boosting up the rate of
progress and that of work inside the nation individual who is setting up these business said that
before their organizations they were all activity less or jobless and afterwards they inspired
chance to get the credit and begin their business. Government and several financing companies
are there who are coming forward to help them in giving loan on cheaper rates which they could
easily buy and then repay it. But other than this, it was needed that at the very early stage of
start-up business, they must be given support of which they are in greater need. As it is seen that
many firms are not able to survive into their initial phase of setting up that too within 3 years,
they are forced to close down their business.
According to Konzelmann & Fovargue-Davies, (2017) it was said that 41% of total start-
up firms that are been establishing are not been able to survive till their growth age and 60% of
them are not having that much confidence or access of funding as well. Year 2009 which was the
period of depression has been regarded as the worst year of start-up business which encountered
the lowest rate of establishment in UK. Other than this, after 2009, the rate of beginning up of
business came to around half more which is around 350000 propelled in 2014 and 366000 of
every 2015.
This survival rate according to Somerville, (2017) is most noteworthy in well being and
training area of UK which is increasing huge achievement rate of up to 10% more than add up to
mechanical normal of 68%. Then again it was noticed that accommodation industry is
confronting their most exceedingly terrible achievement rate from recent years. This
demonstrates just 50% of them could be making due amid the 3 years of their setting up as
cordiality industry is confronting huge auxiliary difficulties amid the current years. It was seen
that data and innovation area which is additionally viewed to as "The Flat White Economy" was
the most noteworthy developing industry of UK as far as new businesses. IT part was account
around 80% of development rate in recent years the quantity of firms in this area is expanding in
UK and furthermore different nations of world. Organizations which are enjoying innovative
headway and brining new thoughts into advertise are viewed to as foundation of monetary
development of UK. In this procedure the plans of government are assuming major imperative
part in childhood the segments like that of giving start up credit to organizations.
6

Omisakin, (2017) said that if firms which are new foundation are locked in into better
advertising apparatuses and systems then this will prompt increment in their development and
advancement too. In the event that organizations are getting themselves into promoting practice
that too on normal bases then this would deal with in changing the items and administration so
client need could likewise be fulfilled. The primary explanation for the disappointment of new
companies is their absence of promoting abilities they are having smart thought and development
procedures with them. Khan, (2017) incorporated that this showcasing would enable them in
spreading their name, to brand or thought inside commercial centre and in this manner they
would be effortlessly coming to their objective market.
While there are real reason with respect to why government and different establishments
must support these kinds of business. They are the one which give that new companies are
assuming critical part of improvement of UK and that it is important that they are been taken up
in bleeding edges with the goal that nation would have the capacity to develop. As Clarysse,
Wright and Hove, (2016) incorporated that start up firms are those which are giving significant
objective to advertise by their fantastic utilization of development and innovation inside
everyday working of organizations. The utilization and usage of innovation inside their working
and after that commercializing all innovation which they have. Numerous enormous firms in the
event that they found that new companies are performing great in showcase and are having smart
thought then they intend to secure them. With this upper hand of these organizations are been
made up accordingly prompting financial advancement and profitability is ascended.
Giardino, Wang and Abrahamsson, (2015) said that another reason concerning why start
up business should be promoted is their rate of employment and economic growth within UK.
They are meant for generating huge amount of new jobs in their own field. This increase in job
opportunity is automatically leading to economic growth of nation as whole so encouraging them
will be proved to be very much effective. In the healthy core of the country, this would be
remarkable to see the success and growth of start-up businesses which are also giving tough
competition to big and well established firms of country.
One more positive illustration of helping and assisting these kinds of business could be
promotion of research and innovation systems in nation. They are having high level of
technology which is also the most dynamic one which would be aiding into entrepreneurship
7

ecosystem. Start-up companies are been under the control of students and young ventures who
are been coming into this phase and reflecting as their role model as well. Moreover, The brining
up of values and proactivity into the society and community has been regarded as reason of
encouragement of these business as said by Lam & Law, (2016).
The challenges which are been faced by them in meeting financial requirements within UK.
As already included that the business which are governed by fresh start ups of innovative
ideas. But they are the one who are likely ot fails within market where there is touch competition
among market players.
As per the above figure, it is very much clear that the biggest challenges which the start-
up businesses are facing is access to finance and attract new customers. This is leading to the fact
that if any firm which is newly started then due to lack of financial growth or easy access to
market they could simply crush and came to winding op of there business. They are facing strict
barriers at time when they are raising their funds from market and other major factor could be
that of lack of good marketing strategies of firm. Wagemans, Witschge & Deuze, (2016)
included that in one of the surveys which was conducted on 500 start up owners from them 29%
of them elaborated that they at the time of setting and operating their business they are facing
8
Illustration 1: Challenges of Start-ups in UK.
[Source: Biggest Challenges Facing UK Start-ups, 2018]

accessing of finance and 34% of them said they are facing difficulties in gaining their customers.
These are the two challenges which they are facing on daily bases which is marketing and
funding.
In this fact, it was seen that age of start-up will be one of the influencers which will be
leading to their lower growth and failure as well. At the initial time of their establishment which
is under 12 months at this time financial problems is the most crucial time as according to 70%
of them who agreed. Other than this 72% of them while they were in the age of 2 years old they
were facing this challenges and in the age of 3-5 years 69% of them said that they faced problem
at this time. Wu & Eriksson Lantz, (2017) said that if they overcome these challenges during the
time of 3 years, then they could easily be able to survive into market.
Funding would be included and said to be beyond the initial cost of establishment which
could be very easily solving this problem with the use of effective planning for future growth.
The aim with which they start up their business would be regarded as gaining higher amount of
profits in terms of money and at the starting point, they are facing the problem of funding only.
The level of competition which companies are facing would also be included as financial
challenges which they are facing as there are many rival companies which are present in the
market. As the big firms are there into market for a longer duration of time so their knowledge
about marketplace and profits and greater than that of start up business. As they in common
terms are small and medium enterprise at time of their involvement within market so gaining
competitive advantage is new to them. Shah, Long & Ganji, (2017) said that there are very less
number of owners of these start up business who are obtaining their funds or any kind of
financial help as they say that their own money would be invested in to their business.
9

This is because of the fact that investing institution and banks are not interested or they
do not trust them while giving money to them. So, owners are investing their own money mainly
and rest amount has been invested by others like their family, friends, debt finance or any other
type of finance terms. Bernard, Burgstahler & Kaya, (2018) elaborated that about 48% of the
start-up owners included that they are finding it very much difficult to raise funding for their own
business and only 4% of them found it easy to raise funds. While many of them are saying that
they are not properly investing their time into social media channels for promoting their brands
as they are not sure whether this would be helpful or not. Most of the start-ups are in need of
better ways and channels of cash or funding which in turn is very much important for their
establishment and operating as well.
They could also be termed as financial technology industry which is denominated to as
FinTech sectors as they are also the new technology and innovation sector which is aiming at
comparison with other traditional methods. There are many in UK who are planning to start their
own business but few of them are not succeeding into this task. Therefore, the main point which
they need to mention and make it clear is that in which ratio and from where would they be
obtaining funds so that their business is running on correct path. Cox, Hillman & Langevoort,
(2016) said that funds are the most essential part of any organisation which is playing important
10
Illustration 2: Difficulties in raising funds
[Source: Biggest Challenges Facing UK Start-ups, 2018]

role in market. As there is only one owner of firm who is responsible for operating and success
of business who are finding it very much difficult to obtain funds from correct sources.
Other reason or challenges which they are facing while meeting financial requirements
could be that of not getting loans from financial institutions. At the starting, the scheme which
was launched by government for start-ups were for those who are young and under the age of 25
years but after that, there is no age restriction. If any age person is having great idea of starting
up their own venture, then they could apply for about £25000 which will be helping them to start
up business. Then after this, money which they are getting could be repaid by them over time
period of about 5 years with the rate of 6% of interest. As per the government, there are other
schemes which could be used in order to implement the planning and execution of their idea.
Other than this, Jones, Williams-Burnett & Ratten, (2017) said that many big enterprises are
coming forward to help these small and start-up business in order to support them with their
problems.
There are many banks which would not be supporting them which in turn mean that they
are not giving loan as they are either not finding their idea worthy or they are not trusting young
entrepreneur. On the other hand, they are also providing loan as per the government scheme that
is forcing them to provide them bank guarantees or overdraft facilities as well. There is one more
financial obstacle which is faced by start-up in UK could be said as lack of working capital. This
is the most vital factor which is in need of companies which are operating especially in that
which is related to manufacturing firm. Mäkelä, (2017) mentioned that if firms need to have 6
months before the liquid money which they would be using up for working capital bases. The
start-up firms are also facing problems with their sales and profits which shows that they are not
having sufficient profits despite of the fact that sales are very much high.
Reason behind this situation could be overspending by those companies or it could also
be any sort of hidden cost that are eating up the profits and expenses have been out of control of
owner. When the firm has been running out of cash, then this would be regarded as very bad but
if company is running out of cash on very regular basis, then this seems to be even bigger
problem as to this. Another one as per Jørgensen, (2017) would be not getting regular payments
from clients or debtors of the firm which accounts to about 80% of the total start up business
who are not getting payment on regular bases. At every time when business is not performing
11

good there is chance that they are then engaging themselves into unnecessary sales promotions
and coupon distribution. This is as per Ama & Okurut, (2017) one more reason as to why they
are facing the issue of financial problems or lack of funding.
If firms are engaging themselves into this extra work then their short term loans would be
over budgeting them. The choice of wrong type or source of funds is also drawing back their
chance and formation of capital structure. There are numerous options to choose from the variety
of sources like that of crowdfunding, family, friends, business loan, joint venture and
government funding as well as Arner, Barberis & Buckley, (2016) said. So this is required that
they are employing efficient team who would be finding that which source will be relevant by
looking for the current position of firm. These firms are also not having much knowledge about
how to keep their books of accounts so this could be not doing this task efficiently which is not
allowing them know their real or actual position.
The cash flow management should be done efficiently which means that all the money
which is coming in and going out should be checked on regular bases. Money which is been used
within business that too daily must be taken very much seriously as this could be treating cash as
important part of business. There are many times when they are facing unforeseen expense like
that of decrease of their profits or not carrying on good sales of business. So if they are planning
for these expenses which are unexpected and could cause of lower return and higher risky
situations. Sung, Ramanathan & Singh, (2017) said that after they are facing unforeseen event
even the small risk or loss to start up company could be making a large dent into their cash flow
statements. The projection or forecasting of revenue and their expense is also important part of
company so if start ups are not been indulging into correct and proper forecasting then they could
be facing issues. If the company is newly start up company it will not be easy to identify what
their profits or revenue would be. However, expense in every month would be almost same only
so they could be easily project their expense in advance.
Overcoming these challenges of financial requirements.
All the challenges which are been included in above part need to be overcome so that it
becomes easy for the start up business in gaining and maintaining their cash balance and
expenses as well. Omondi & Jagongo, (2018) said that it becomes very much important for firms
that they are been dealing with correct type of financial stability of firms as this is most
12

important part of any business whether big or small. If the firms are not having any kind of back
up plans then they could be in much bigger trouble and financial crises. So at the starting only
they must be making list of financial challenges which they could be easily facing and this would
then be acting as starting point of planning to overcoming these issues. This planning will be
helping entrepreneur in solving problems on more efficient bases and several times they could
also be get easily out of the issues.
Like Carbó-Valverde & Kahn, (2016) elaborated that if start up business are facing
problem which is related to working capital then this could be easily solved if they are cutting
down their cost of capital which then they could keep aside in then building up of this working
capital. It was also included that if firm wants that their profits should be higher than they could
be getting sufficient finance from correct sources. The company could also be facing financial
problems which are related to higher sales but still lower profits at this time they must be creating
effective purchasing policy. Company also must be ensuring that if they are buying purchasing
raw materials so that must be comparatively lower price from others who are dealing into same
products. According to Wang & Abrahamsson, (2016) it was said that supervision of policy
which they have made should be done which will be telling them about any kinds of loopholes. If
production management of company is been dealing with vendors and suppliers then they must
be having knowledge of price negotiations so that there unnecessary wastage of funds are lower
down. On regular bases if company is been facing shortage of funds then nightly checking of
books of account should be done which will be telling is there any mistake within the accounts
and if there are then policy should be created.
There are many times that Wainwright, Kibler & Blackburn, (2015) included that
payments which need to come from the vendors and suppliers or debtors and they are delaying
them. All the policy which are governing their payment must be communicated to their debtors
so that they are having knowledge of them and are having habit of not delaying payments. If bills
of company are not coming on right time then they must be dealing and negotiating their
payment terms and producing of monthly budget needs to be initiated at right time. Financial
problems will also be arising after company is dealing with expensive sales promotions activities
so reducing of profits margins could be better option of reduction of this extra expense of
business. Powers & Vera Zambrano, (2016) said that start up company are not in this position
13

that they are not calculating their expenditures and revenue or forecasting them. This one is very
important activity which they need to do so that company would be operating in safer terms and
they are been treated into market for longer duration of time.
Company not choosing correct funding option would be leading into bigger financial
trouble which they need to overcome as soon as possible. So for the first time they must be
making list of all relevant options from where they could easily obtain funds or what are the
important source of funds. This will have much help ot start up company as they would be
knowing from where they could source their funds and then finalising their appropriate option of
funding. The company which is not preparing their books of accounts on proper terms would not
be having any knowledge about what are the expenditures and how much revenue they have
earned. Company must be ensuring that their accountant which they have appointed must be very
well qualified so that he is not indulging in any confusing state of mind.
Cafferty, McCarthy & Power, (2016) said that in this era of technology there are many
applications which are there and they all are dealing with effective dealing of cash management
systems. So company must be using these apps and also the cash flow calculators so that cash is
easily managed as per their power. Preparation of budgets and reports at the starting and end of
each financial year respectively is one of the biggest deal which will be helping to reduce and
manage their cash management systems. It is very important that start up companies are
overcoming all challenges which are been faced by them as this would be helping the in long
term sustainability within market. There are many obligations and obstacles which start up
business are facing like that related to legal one but the most frequent which they need to
overcome is financial one. So it becomes necessary that they are analysing reason behind this
which could be that of under capitalisation. It could also be lack of funds that are required by
them that too on daily bases which is also regarded to as working capital.
Scher & Yoshino, (2015) included that many times bank deny to give loan or funding to
them as they are not having any kind of track records with them. So in this case also they would
be facing strict obligations of not recovering from financial failure there are certain options that
are helping and assisting start up business. The way in which company could be getting funding
options easily could be that of going to the funding houses which are there in market and asking
them. There are many types of funding sources like that of Angel Capital Association this is very
14

good new venture which is giving investors platform to do their investment into specified funds.
Crowdfunding technique is also alternative way under which new start up companies could be
dealing into this is becoming popular at present time of social media campaign. Their working
would be like they pool essential peoples or agencies and also some smaller business and then
they arrange to give money to them who are in need of.
Wagemans, Witschge & Deuze, (2016) also said that working with a small financing
service company will also be good alternative options that would be helping them into directing
their funds and working capital as well. These small financing service company would be
introducing them with some opportunities that are certainly new to start up business and they
would also not be interested in buying all alone without help of someone who is having quite
good knowledge into that. One of the better options could be that of keeping cost of products low
at the beginning only which would be helping them in saving their money and then investing.
These are some options which are available with them and helping them in solving the issue of
financial challenges and sustaining in longer run as well. By hiring right kind of people at right
job will also be of great help to these start up businesses so their staff should be of quality one.
Employees are always the best resources who are assisting company with their knowledge and
skills and thus, they could also be termed as investment of company.
As per Parveen, Maimani & Javaid, (2017) it was concluded that if the start up business
are having wider and effective network of good people who are that much efficient in helping
them. This should be including researching profiling of customers and knowing about what
treads are prevailing within market so that they are investing accordingly.
CONCLUSION
From this would literature review on financial challenges that start up companies within
UK are facing and what could be the possible sources that are helping them in overcoming them.
It is concluded that the most common and prominent issue which they are facing is that of
working capital and unable to seek for proper source of funding. This challenge could be sort out
in way that they are doing planning of what are they needing and what could be helping them in
coming out of the problems. Having qualified and skilled labour will also be helpful for them as
employees are the best resource which any business could be having or investing in. Other than
15

these crowdfunding, bank loan and funding houses are some important sources of funding or
sorting out of the financing problems.
16

REFERENCES
Books and Journals:
Ama, N. O., & Okurut, F. N. (2017). Challenges Msmes Face And Benefits In The Adoption
Of Open Collaborative Innovation: A Principal Component Approach. Archives of
Business Research. 5(7).
Arena, M., Calderini, M., & Chiodo, V. (2018). Unlocking finance for social tech start-ups: Is
there a new opportunity space?. Technological Forecasting and Social Change. 127.
154-165.
Arner, D. W., Barberis, J. N., & Buckley, R. P. (2016). The emergence of regtech 2.0: from
know your customer to know your data.
Bernard, D., Burgstahler, D., & Kaya, D. (2018). Size management by European private
firms to minimize proprietary costs of disclosure. Journal of Accounting and Economics.
Cafferty, S., McCarthy, O., & Power, C. (2016). Risk and reward: The development of social
enterprise within the criminal justice sector in Ireland-some policy implications.
Carbó-Valverde, S., & Kahn, C. M. (2016). Payment Systems in the US and Europe:
Efficiency, Soundness and Challenges. Financial Stability Review. 9-33.
Clarysse, B., Wright, M., & Hove, J. V. (2016). A look inside accelerators in the United
Kingdom: Building technology businesses. In TECHNOLOGY ENTREPRENEURSHIP
AND BUSINESS INCUBATION: Theory• Practice• Lessons Learned(pp. 57-86).
Cox, J. D., Hillman, R. W., & Langevoort, D. C. (2016). Securities regulation: cases and
materials. Wolters Kluwer Law & Business.
Giardino, C., Wang, X., & Abrahamsson, P. (2015, May). Key challenges in early-stage
software startups. In International Conference on Agile Software Development(pp. 52-
63). Springer, Cham.
Hussain, J. G., Li, J., & Scott, J. M. (2017). The Equity Gap Amongst Technology-Based
Small Firms: Practices and Challenges for Government-Backed Venture Capital in
China. In The China Business Model (pp. 99-117).
17

Jones, P., Williams-Burnett, N., & Ratten, V. (2017). Let’s get physical: Stories of
entrepreneurial activity from sports coaches/instructors. The International Journal of
Entrepreneurship and Innovation. 18(4). 219-230.
Jørgensen, K. (2017). Newcomers in a global industry: Challenges of a Norwegian game
company. Games and Culture, 1555412017723265.
Khan, M. R. (2017). SUCCEEDING IN CHALLENGING ENVIRONMENTS-FEMALE
TECHNOLOGY START-UPS EVIDENCE FROM SAUDI ARABIA. Academy of
Entrepreneurship Journal. 23(2). 1-11.
Konzelmann, S. J., & Fovargue-Davies, M. (2017). Time to Stop Playing Games with
Industrial Policy?: What Government and Business Might Learn from Team GB. Centre
for Business Research, University of Cambridge.
Lam, P. T., & Law, A. O. (2016). Crowdfunding for renewable and sustainable energy
projects: An exploratory case study approach. Renewable and Sustainable Energy
Reviews. 60. 11-20.
Lilly, P. J. (2017). Exploring the Knowledge, Skills, and Abilities Required to Establish a
Foreign Office for a US-Based Business Successfully Using Local-Country-National
Employees (Doctoral dissertation, Colorado Technical University).
Mäkelä, A. (2017) . Fostering innovation and growth in the digital age: the case for challenge
prizes in Europe. College of Europe Policy Brief# 13.17, December 2017.
Omisakin, O. M. (2017). Economic Contributions and Challenges of Immigrant
Entrepreneurs to Their Host Country–Case of African Immigrants in Auckland, New
Zealand. Journal of Business Administration Research. 6(1). 25.
Omondi, R. I., & Jagongo, A. (2018). Microfinance services and financial performance of
small and medium enterprises of youth SMEs in Kisumu County, Kenya. International
Academic Journal of Economics and Finance. 3(1). 24-43.
Parveen, M., Maimani, K., & Javaid, S. (2017). An Experimental Study of Saudi
Entrepreneurs who owned Small and Medium Enterprises in Saudi Arabia. International
Review of Management and Business Research. 6(1). 257.
18

Powers, M., & Vera Zambrano, S. (2016). Explaining the formation of online news startups in
France and the United States: a field analysis. Journal of Communication. 66(5). 857-
877.
Sampson, S. M. (2017). A Review for Needed Financial Industry Changes to Standard KYC
Policies (Doctoral dissertation, Utica College).
Scher, M. J., & Yoshino, N. (2015). Small Savings Mobilization and Asian Economic
Development: The Role of Postal Financial Services. Routledge.
Shah, S., Long, M., & Ganji, E. N. (2017, December). Achieving strategic growth in
microenterprises through information technology: UK micro enterprise case study.
In Industrial Engineering and Engineering Management (IEEM), 2017 IEEE
International Conference on (pp. 1133-1137). IEEE.
Somerville, M. (2017). Evaluation of the Talent for Care strategy in Health Education
England working across North West London.
Sung, K., Ramanathan, U., & Singh, J. (2017). Challenges and support for scaling up
upcycling businesses in the UK: Insights from small-business entrepreneurs. IOS Press.
Wagemans, A., Witschge, T., & Deuze, M. (2016). Ideology as resource in entrepreneurial
journalism: The French online news startup Mediapart. Journalism Practice. 10(2). 160-
177.
Wainwright, T., Kibler, E., & Blackburn, R. (2015). One size does not fit all: uncovering
older entrepreneur diversity through motivations, emotions and mentoring needs.
In Entrepreneurship, Self-Employment and Retirement (pp. 42-66). Palgrave Macmillan,
London.
Wang, X., & Abrahamsson, P. (2016, May). Key challenges in software startups across life
cycle stages. In International Conference on Agile Software Development (pp. 169-182).
Springer, Cham.
Wu, K. Y., & Eriksson Lantz, C. (2017). Building and managing an innovation hub: A case
study of the challenges and opportunities faced by a Northern Swedish innovation hub.
19