Proceedings of the International Conference on Student and Disable Student Development 2019 (ICoSD 2019)

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Challenges Faced by New Entrepreneurs and Suggestions How to Overcome Them

Authors
Eng Yi Fong, Mohd Khata Bin Jabor, Abdul Halim Zulkifli, Mohamad Riduam Hashim
Corresponding Author
Mohd Khata Bin Jabor
Available Online 22 September 2020.
DOI
10.2991/assehr.k.200921.037How to use a DOI?
Keywords
Mobile application, university students
Abstract

All entrepreneurs especially the new entrepreneurs who are yet experienced in the business field, will have the tendency to face various challenges on their road to success in this field. Based on this, this paper sheds light on the various internal challenges as well as the external challenges that will be faced by the new entrepreneurs. Apart from that, this study also aims in identifying the possible suggestions that can be used to overcome those challenges. A review of secondary data including online journal articles and publications were used to gather the data for this study. From the study conducted, it was found that developing business idea and vision, raising capital for start-up and finding the right business location are the among common internal challenges faced by new entrepreneurs. As for the external challenges, new entrepreneurs are found to frequently face challenge in the form of competition, unforeseen business challenges and others. Besides that, the study’s findings have also revealed several suggestions which can help to meet those challenges faced by entrepreneurs such as being optimistic towards the challenges faced, expanding the idea and vision to potential investors and so on.

Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the International Conference on Student and Disable Student Development 2019 (ICoSD 2019)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
22 September 2020
ISBN
10.2991/assehr.k.200921.037
ISSN
2352-5398
DOI
10.2991/assehr.k.200921.037How to use a DOI?
Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

risenwbib
TY  - CONF
AU  - Eng Yi Fong
AU  - Mohd Khata Bin Jabor
AU  - Abdul Halim Zulkifli
AU  - Mohamad Riduam Hashim
PY  - 2020
DA  - 2020/09/22
TI  - Challenges Faced by New Entrepreneurs and Suggestions How to Overcome Them
BT  - Proceedings of the International Conference on Student and Disable Student Development 2019 (ICoSD 2019)
PB  - Atlantis Press
SP  - 223
EP  - 227
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.200921.037
DO  - 10.2991/assehr.k.200921.037
ID  - Fong2020
ER  -