Entrepreneurship is not an easy challenge. There are many technical issues that businesses have to face, and it’s not easy for an entrepreneur to grow their business from scratch. Here are the biggest entrepreneurship challenges for 2019.
1. Improvements in Administration: Bury the “come back tomorrow”
This is one of the aspects that you need to focus on. A lot has happened since Mariano José de Larra’s famous article of manners and although the comparative with two centuries ago seems excessive, the truth is that the agility in the procedures can improve a lot. The entrepreneurs demand to reduce the bureaucracy and accelerate the procedures for the creation of companies and startups.
In this first point, the study also emphasizes the need to reduce tax obligations and taxes and facilitate hiring.
2. Increase the number of women entrepreneurs
The presence of female entrepreneurs around the world is increasing but still lower than that of male entrepreneurs, representing 55.7% and 44.3% respectively. The aim is to reach a 50/50 balance
According to the GEM Special Report on Female Entrepreneurship, the gender difference has narrowed by 6.5% in the last two years. Of course, the entrepreneurial nature around the world is more common among women than among men since the former start their activity as a business opportunity and not as an exit to unemployment.
3. Internationalization of SMEs
The export trend in certain countries is bullish. So much so that in 2016, Spain was the leading country in the growth of world exports but there are still SMEs that resist the foreign market. For this reason, last September the so-called Strategy for the Internationalization of the Spanish Economy 2017-2027 was drawn up, a ten-year plan to support exports in the business sector.
When it comes to making the leap to new markets, the cultural and linguistic closeness, as in the case of Latin American countries, positively influence the success of the export project.
4. Business synergies
The study of Spain Startup South Summit establishes as a challenge for this newly started 2018 the establishment of business alliances that favor the growth of the entrepreneurial ecosystem.
5. Maturity of startups in the world
It must be borne in mind that, according to the 2017 Map of Entrepreneurship, 9% of them have between 3 and 5 years of life. Therefore, seeking the consolidation of startups and thereby increase and enhance their life cycle, is another of the objectives of this year.
6. Get funding to start a project
Although there are many financing options (crowdfunding, business angels, bank financing …) at the time of starting your entrepreneurial project you have to keep moving forward to find enough financial support. As much as it is improving in this sense, the lack of financing is one of the brakes of the entrepreneurial ecosystem.
7. Invest in companies and scale up
This term may sound like Chinese but scale-ups are companies that experience a meteoric growth in record time, specifically, 20% per year for more than three periods in a row. Supporting a scale-up is to support the generation of employment for both employees and self-employed since a large part of these companies hire services from third-party professionals. Who knows if it’s you?
8. Betting on hard technology
3D printers or machines that maximize the process of serial packaging in a company. The so-called hard technology is based on the creation of tangible products that bring efficiency, innovation and technological competitiveness to the highest level.
9. Promote disruptive sectors, what are they?
The report of Startup South Summit insists on the benefits of technology, also the disruptive one, that is, the one that gives rise to new products and modifies what already exists. We talk about technology related to Artificial Intelligence (AI), fintech or mobile.
10. Promote the entrepreneurial culture
Talks, talks, activities … Fostering the entrepreneurial culture from secondary education favors the acquisition of values such as creativity, innovation, leadership or the ability to detect opportunities, to take risks or overcome failure. In short, values that are not exclusive to the entrepreneurial ecosystem but are essential for the development of life.