Start-Up Enterprise Challenges and Business Decisions

START-UP ENTERPRISE CHALLENGES AND BUSINESS DECISIONS
START-UP ENTERPRISE CHALLENGES AND BUSINESS DECISIONS
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START-UP BUSINESS CHALLENGES AND BUSINESS DECISIONS 2
Executive Summary
Entrepreneurship is mainly the making of significant efforts to achieve new ideas
in a greater innovative manner. Start-up business challenges and decisions need to be
focused upon to ensure that an entrepreneur gets on the right track. There are some
challenges that new business ventures face. To encounter these challenges an
entrepreneur needs to make critical decisions to achieve the desired goal. Entrepreneurs
are required to generate value by the conveyance of resources from a bottommost value
to greater valued activities. Activities of higher importance may provide value for the
entrepreneurs as well as the society at large. The Britain government should mainly focus
on giving grants to start-up businesses as they are a significant source of income
generation in the country. By offering support to new business ventures, it will ensure
that there is a boost in the economic growth of the country.

START-UP BUSINESS CHALLENGES AND BUSINESS DECISIONS 3
Introduction
Enterprises are useful contributors to the economy building in Britain. When
starting a new enterprise as an entrepreneur, several risks accompany an individual. To
ensure success as an entrepreneur, it requires perseverance and a desire to achieve the
purpose of the business venture. The government can support Small and medium-sized
enterprises by providing financial support to entrepreneurs to run and manage them
(Block, 2015, p.15). A national campaign was established in Britain by some
entrepreneurs to give support to start-up enterprises in the country. The crusade was set
afloat by David Cameron who was a former Prime Minister in Britain in 2011 even
though it does not get any funding from the government.
Challenges Encountered in Starting and Developing a Business Venture
Burns (2016, p.16) states that there are various barriers that entrepreneurs
encounter in the process of starting and developing a new business venture. The process
of establishing a new business venture is a complicated task which fundamentally
necessitates a concentrated research modeling as well as planning. Lack of sufficient
resources is a more significant challenge in the process of initiating a business venture.
Lack of enough financial funding is an excellent challenge for businesses in the
establishment of new ventures. Nevertheless, the government can ensure that they
develop the fundamental processes to fund these enterprises in the form of grants (Block,
2015, p.17).

START-UP BUSINESS CHALLENGES AND BUSINESS DECISIONS 4
Developing the creativity and business plan; developing a business idea is
usually the primary challenge encountered when beginning a business by new
entrepreneurs. Identifying a business niche or envisioning a business idea is
unquestionably difficult. An entrepreneur is required to have the capability to see what
others don't understand. An entrepreneur should learn to see opportunities in any
challenges that arise. The principal problem is advancing to build the occasion into a
business plan. Converting the opening into a business idea is a challenge since the
practice of changing challenges into business opportunities is a difficult task. Creating a
vision and business plan is a challenging process since it involves an entrepreneur to
establish the value of a business out of nothing. Developing the concept and the business
idea is the initial challenge in starting and growing a business venture (Bromley, &
Meyer, 2017, p940).
Assembling a team for the new business enterprise; when start-up enterprise
entrepreneurs develop a vision and idea for the business, the next challenge is to join the
suitable business management team. A brainstorming team needs to be created to hold
discussions to come up with ideas and ways of overcoming challenges to grow the
business. Establishing a group for the business venture takes place even before raising the
inceptive capital to start a business. Nearly all brilliant business ideas not at any time
scale through the stage of raising starting capital arise. A good business team will help an