What Challenges Do Entrepreneurs Face in Creating Economic Value?
Despite the potential for creating significant economic value, entrepreneurs face several challenges:
Access to Capital: Securing funding for new ventures can be difficult, particularly in the early stages. Regulatory Hurdles: Navigating complex regulations can be time-consuming and costly. Market Competition: Intense competition can make it challenging to gain a foothold in the market. Technological Changes: Rapid technological advancements can render existing products or services obsolete. Resource Management: Efficiently managing resources like time, money, and talent is crucial but challenging.