UK Online Business Start-ups: Project on Challenges & Entrepreneurs

This project proposal aims to examine the challenges faced by online business start-ups and young entrepreneurs in the UK market, focusing on Karakuri's experiences. It seeks to understand the concept and importance of online start-ups, their role in driving change within the business industry, and the specific challenges encountered while establishing an online presence in a competitive environment. The research employs a positivism philosophy with a deductive approach, utilizing a survey strategy and quantitative research methods. Data collection involves both primary and secondary sources, analyzed through frequency distribution. The potential outcome involves a detailed understanding of the obstacles faced by online start-ups in reaching customers, their role in the industry, and the issues encountered during business setup, while also addressing potential risks like cost, time, resources, and safety through mitigation strategies.

Project 1
Project proposal
(Challenges of online business start-ups and young entrepreneurs in the business market of
UK)

1. Introduction
Overview of the topic
 The project is based on identifying the challenges which are faced by online business start-
ups and young entrepreneurs in the business market of UK. Online business generally
means when business activities are conducted over internet (Saarela and et. al., 2018).
 Businesses which are run online mainly includes buying and selling of goods and services
on online basis. Thus, the main purpose of online business is to boost the customer
engagement and increase brand awareness.

Research aim and objective
 Research aim:
To examine the challenges of online business start-ups and young entrepreneurs
in the business market of UK. A study on Karakuri
 Research objective:
 To understand the concept and importance of online start-ups business in today's modern business environment.
 To identify the role of online business start-ups and young entrepreneurs in bringing change in the business
industry.
 To study the challenges faced by Karakuri while setting up their online start-ups business in the competitive
market.

Research question
 What is the concept and importance of online start-ups business in today's
modern business environment.
 What is the role of online business start-ups and young entrepreneurs in bringing
change in the business industry.
 What are the challenges faced by Karakuri while setting up their online start-ups
business in the competitive market.

Research rational
 The rationale behind conducting this research is to determine the challenges faced
by company while setting up their online start-ups business in the competitive
market. While running business, young entrepreneur faces various issues which
can create a great impact on the business performance and efficiency (Troise and
et. al., 2021). This research is helpful for the investigator as it focuses on
accomplishing their two main perspective i.e. professional and personal
perspective.

2. Literature review
Concept and importance of online start-ups business in today's modern business
environment
 As per the viewpoint of van der Westhuizen and Goyayi (2020), the concept of online
business is wider as it includes sharing of data and information over the internet. There is a
great importance of online business start-ups as it enable company to handle the queries of
customers and also resolve their issues without consuming more time. Online start-ups
business generally provide access to broader market due to which company can attract large
number of customers towards the brand.

Role of online business start-ups and young entrepreneurs in bringing change in the
business industry
According to the opinion of Tripathy and Devarapalli (2021), there are various role played by
online business start-ups and young entrepreneurs in bringing change in the business industry.
Online business start-ups brings new product and services in market by analysing the need
and expectation of customers.
Challenges faced by Karakuri while setting up their online start-ups business in the
competitive market
According to the perception of Franceschelli, Santoro and Candelo (2018), there are various
challenges faced by company while setting up their online start-ups business in the
competitive market. The issues which are faced by online start-ups can create a great impact
on the business productivity and performance.

3. Methodology
 Research philosophy: Positivism philosophy
 Research approach: Deductive approach
 Research strategy: Survey
 Research choice: Quantitative research method
 Time horizon: Cross sectional
 Data collection: Primary and secondary
 Data analysis: Frequency distribution method
 Sampling: Probability sampling

4. POTENTIAL OUTCOME
 It is being identified from the above gathered information that while conducting this
investigation a detailed and in-depth knowledge regarding the challenges of online business
start-ups and young entrepreneurs in the business market of UK are determined. Through this
it will be analysed that how online business start-ups faced challenges in order to reach to
potential customers. Within this study, the role of online business start-ups are analysed and
also the issues which are faced while setting up the business.

5. CONCEPTUAL FRAMEWORK

6. GANTT CHART

7. RISK REGISTER
 In the current investigation two types of risk is being identifies which are:
Number Risk Mitigation
1 Cost Questionnaire is sued in order to overcome the cost challenges faced
while conducting the research.
2 Time Gantt chart is used in order to reduce the time risk in significant
manner.
3 Resources Through gathering information from secondary sources, investigator
can overcome the resource risk.
4 Safety Researcher must focus on maintaining the privacy of the participants
while gathering the information due to which safety risk can be
mitigated.