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44
Global Jou nal o Resea ch in Business Managemen
ISSN: 2583-6218 (Online)
Volume 05 | Issue 05 | Sep .-Oc . | 2025
Jou nal homepage: h ps://gj publica ion.com/gj bm/
Resea ch A icle
Conque ing Hu dles: An Analysis o Challenges Faced by Business S a ups
*Cha i y B. Ma quez 1 and Jamaica E. Es ada 2
1,2 Ins uc o , College o Business Educa ion, Qui ino S a e Uni e si y
*Co esponding au ho : Cha i y B. Ma quez
Ins uc o , College o Business Educa ion, Qui ino S a e Uni e si y
1. INTRODUCTION
Due o eme ging echnologies, changing cus ome needs, and mo e global connec i i y, he business landscape has
unde gone emendous change, inspi ing many people o seek en ep eneu ship. S a ups a e essen ial o economic
g ow h and inno a ion, bu hey also ace obs acles ha could p e en hem om succeeding. In line wi h he UN's
Sus ainable De elopmen Goal 8: Decen Wo k and Economic G ow h (Uni ed Na ions, 2020), his s udy examines hese
conce ns and p o ides solu ions o hese issues. The goal o he esea ch is o assis in he es ablishmen o a obus
en ep eneu ial ecosys em ha p omo es economic g ow h by o e coming hese challenges.
The p ima y aim o he esea ch is o examine he di icul ies encoun e ed by s a ups and o e p ac ical
ecommenda ions. Unde he s uc u e o he en ep eneu ial ecosys ems’ amewo k (S am & an de Ven, 2021), which
highligh s he in e ela ed elemen s ha a ec success, i iden i ies majo obs acles, hei e ec s on s a -ups, and
sugges ions o s akeholde s. High ailu e a es highligh he need o comp ehending bo h iumphs and ailu es,
pa icula ly in he ea ly s ages (Eesley & Wu, 2021). Along wi h highligh ing he impo ance o in es o backing and
go e nmen al egula ions in p omo ing s a -up g ow h, he s udy also examines esilience ac ics in dynamic
Abs ac
S a ups a e essen ial o p omo ing inno a ion and economic g ow h in he e e -changing wo ld o mode n
en ep eneu ship. Bu hese businesses equen ly encoun e majo obs acles ha can p e en hem om
succeeding, especially in de eloping na ions. Wi hin he con ex o en ep eneu ial ecosys ems, his s udy examines
he signi ican obs acles ha new businesses in Qui ino P o ince, he Philippines, mus o e come. The esea ch
seeks o o e use ul sugges ions o imp o e he esilience and sus ainabili y o s a ups, in line wi h Sus ainable
De elopmen Goal 8 o he UN: Decen Wo k and Economic G ow h.
Employing a desc ip i e-quan i a i e app oach, he s udy examines key a eas o conce n, including inancial
cons ain s, ma ke en y challenges, egula o y hu dles, eam-building issues, and echnology adop ion. Da a we e
ga he ed h ough a s uc u ed su ey o 60 s a -up owne s, and he indings highligh signi ican challenges, such
as managing cash low, in ense ma ke compe i ion, and na iga ing complex legal equi emen s. The s udy also
unde sco es he impo ance o assembling he igh eam and le e aging echnological asse s o d i e business
success.
The esul s e eal ha al hough s a ups unde s and he i al ole ha inno a ion and echnology play, access o
he equi ed in as uc u e con inues o be a hu dle. S a -ups also encoun e signi ican challenges in ob aining
capi al and c ea ing compe i i e s a egies in compe i i e ma ke places. This s udy gi es ecommenda ions o
s akeholde s, including as legisla o s, in es o s, and academic ins i u ions, o encou age he expansion and
sus ainabili y o new companies. I also sheds ligh on he s a up ecosys em in Qui ino P o ince. The s udy
ad ances he mo e gene al objec i es o sus ainable economic de elopmen and he es ablishmen o a s ong
en ep eneu ial ecosys em.
Keywo ds: Business S a ups, Challenges, En ep eneu ship, Hu dles, Success.
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ma ke places (B own & Mason, 2020; Acs e al., 2022; Huang & Knigh , 2022). Coope a ion be ween academic
ins i u ions, co po a e execu i es, and accele a o s is c ucial o inc ease s a -up success. This esea ch aims o con ibu e
o he b oade goal o sus ainable economic de elopmen by p o iding p ac ical ecommenda ions o suppo ing s a -up
g ow h and success.
Figu e 1. Pa adigm o he S udy
2. RESEARCH METHODOLOGY
This sec ion ou lines he esea ch design, esea ch locale, sampling p ocedu e, scope and delimi a ion, esea ch
ins umen , da a collec ion p ocess, da a analysis, and e hical conside a ions.
Resea ch Design
This s udy employed a Desc ip i e-Quan i a i e App oach, ga he ing nume ical da a and analyzing i h ough
ma hema ical me hods. This me hod sough o assess he issues and challenges ha Qui ino P o ince's s a ups
encoun e ed.
Resea ch Locale and Sampling P ocedu e
The s udy, which was conduc ed in he p o ince o Qui ino, concen a ed on he business en i onmen , sociocul u al
aspec s, and local economy as hey ela e o en ep eneu ial endea o s. A well- ounded ep esen a ion o en e p ises was
ensu ed h ough he use o pu posi e sampling, which selec ed pa icipan s om a a ie y o indus ies and phases in
hei en ep eneu ial ca ee s.
Scope and Delimi a ion
The s udy ocused on he di icul ies aced by business owne s in he p o ince o Qui ino, co e ing a ange o indus ies,
including e ail, ag icul u e, echnology, and se ices. The s udy ocused on he i s phases o business s a -ups wi hin
he designa ed s udy pe iod; i did no include he ope a ional o exi phases o expand o o he p o inces.
Resea ch Ins umen
A modi ied su ey ques ionnai e de i ed om Im an Nkun (2020) was employed in he s udy. The ques ionnai e, which
was di ided in o i e sec ions, co e ed esponden p o iles, challenges encoun e ed, issues ha a ec ed success o
ailu e, s a egies o o e coming di icul ies, and ollow-up ques ions o addi ional insigh s.
Inpu
P ocess
Ou pu
P o ile o he
en ep eneu s.
The Issues and
Challenges aced
by En ep eneu .
Su ey
Ques ionnai e
Da a ga he ed h ough
su ey ques ionnai e.
Analysis o da a
h ough S a is ical
Package o he Social
Sciences (SPSS)
so wa e.
In e p e a ion o da a
O e ing insigh s in o
po en ial solu ions and
s a egies o add ess
iden i ied issues and
challenges o business
s a -ups.
Re o m in egula o y
amewo ks o c ea e
mo e suppo i e
en i onmen o s a -
ups.
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Da a Ga he ing P ocedu es
A s anda dized su ey ques ionnai e in ended o add ess s a -up challenges was used o ga he da a. In o de o e i y he
comp ehensi eness and cla i y o he ques ionnai e, a pilo s udy was ca ied ou . Ques ionnai es we e gi en ou in
pe son a e consen was ob ained, ensu ing pa icipan con enience and con iden iali y. A hema ic analysis o he
quali a i e esponses was combined wi h quan i a i e da a analysis.
Da a Analysis
F equency and pe cen age coun s we e u ilized in he s udy o examine demog aphic da a, and esponse weigh s we e
calcula ed using weigh ed mean. Responses we e in e p e ed using he Like scale, wi h co esponding ema ks anging
om "S ongly Ag ee" o "S ongly Disag ee."
E hical Conside a ion
Pa icipan s we e in o med o he s udy's objec i es, me hods, bene i s, and po en ial d awbacks. They had he eedom
o wi hd aw wi hou consequences. Con iden iali y and anonymi y we e main ained h oughou , and p ope academic
ci a ion p ac ices we e ollowed.
3. RESULTS AND DISCUSSION
Table 1. Socio-demog aphic p o ile o he business owne s
Socio-demog aphic p o ile
%
Gende
Male
23
38
Female
36
60
LGBTQIA+++
1
2
Age
18-24
5
8
25-34
21
35
35-44
18
30
45-54
11
18
55 & abo e
5
8
Educa ional Backg ound
High School
8
13
Bachelo 's Deg ee
36
60
Mas e 's Deg ee
14
23
PhD. o o he ad anced deg ees
2
3
Indus y/Field o wo k
Technology
14
23
Heal hca e
11
18
Manu ac u ing
13
22
Se ices
16
27
O he s
6
10
Yea s in ope a ion
Less han 1 yea
17
28
1-2 yea s
36
60
3-5 yea s
7
12
Numbe o employees
1 o 5
35
58
6 o 20
19
32
21 o 50
6
10
Mo e han 50
0
0
To al
60
100%
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Table 1 shows he socio-demog aphic p o ile o business owne s and i was e ealed ha mos o he esponden s a e
emale (60%), ollowed by males (38%) and a small pe cen age iden i ying as LGBTQIA+++ (2%). A s udy ound ha i
is in a o o women aking on mo e en ep eneu ship, especially in de eloping na ions whe e hey make a subs an ial
con ibu ion o social and economic ad ancemen (Elam e al., 2019). In addi ion, he age g oup o 25 o 34 yea s old
accoun s o 35% o all business owne s, wi h he nex la ges age g oup being 35 o 44 yea s old (30%). This is in line
wi h global ends ha show younge people a e mo e inclined o s a hei own businesses since hey ha e g own up
wi h access o echnology and a as -paced business en i onmen (Bosma e al., 2021).
In e ms o educa ional backg ound, a majo i y o pa icipan s (60%) possess a Bachelo 's deg ee, while a lesse
p opo ion (23%) and (3%) ha e a Mas e 's o PhD deg ee. Highe educa ion has been associa ed wi h a highe chance o
en ep eneu ship success because i gi es people access o business expe ise, c i ical hinking abili ies, and a s ong
ne wo k (Ma el, Da is, & Sp oul, 2016). This sugges s ha educa ion is s ill qui e impo an o hose who wan o
pu sue en ep eneu ship.
The dis ibu ion o esponden s by indus y e eals ha he majo i y wo k in he se ices sec o (27%), which is ollowed
by manu ac u ing (22%), echnology (23%), and heal hca e (18%). The dominance o he se ices sec o is a e lec ion o
wo ldwide ends, as en e p ises ocused on p o iding se ices a e inc easingly in luencing economic en i onmen s
(Global En ep eneu ship Moni o , 2022). Fu he mo e, he majo i y o businesses (60%) ha e been in exis ence o one
o wo (1 o 2) yea s, sugges ing ha he sample is p ima ily made up o ela i ely new companies. This is in line wi h
ends ha show how impo an a company's i s ew yea s o exis ence a e o i s abili y o de elop and su i e (SBA
O ice o Ad ocacy, 2020).
A some poin , mos o hese businesses a e small, wi h 58% employing 1 o 5 employees, and 32% employing 6 o 20
employees. The g owing numbe o small i ms is indica i e o a wo ldwide end in en ep eneu ship, whe ein mic o
and small businesses se e as he ounda ion o economies, pa icula ly in de eloping na ions (In e na ional Labou
O ganiza ion, 2019). The o e all p o ile sugges s a di e se and dynamic en ep eneu ial en i onmen , d i en by
educa ed indi iduals p edominan ly in he se ices sec o , ope a ing small-scale and ela i ely new en u es.
Table 2.1. Challenges o Business S a ups as o Funding/Financial Challenges
Funding/Financial Challenges
Mean
Ve bal
In e p e a ion
1. Lack o Ini ial Capi al.
3.43
Ag ee
2. Lack o access o adi ional unding sou ces (banks, en u e capi alis s, e c.)
3.18
Neu al
3. Tough ules o quali y o unding p og ams.
3.47
Ag ee
4. Di icul y Secu ing Funding.
3.30
Neu al
5. Lack o suppo and guidance o na iga ing he unding p ocess.
3.17
Neu al
6. Limi ed awa eness o al e na i e unding op ions (c owd unding, angel in es o s, e c.)
3.55
Ag ee
7. Managing Cash Flows.
3.95
Ag ee
8. Insu icien cash ese es o co e ope a ing expenses.
3.45
Ag ee
9. Rising le el o deb s wi hou a co esponding inc ease in e enue.
3.25
Neu al
10. Ope a ing expenses consis en ly exceeding e enue.
3.40
Neu al
GRAND MEAN
3.42
AGREE
Legends: 4.21-5.00 S ongly Ag ee, 3.41-4.20 Ag ee, 2.61-3.40 Neu al, 1.81-2.60 Disag ee, 1.00-1.80 S ongly Disag ee
The inancial di icul ies ha newly es ablished businesses encoun e a e shown in Table 2.1. "Managing Cash Flows"
has he highes mean sco e o 3.95, in e p e ed as Ag ee. This sugges s ha managing cash lows co ec ly is he bigges
obs acle acing en ep eneu s, unde sco ing he signi icance o p ese ing a s able inancial clima e o ensu e he
longe i y o hei businesses. This is con inually co obo a ed by he li e a u e, which highligh s ha one o he main
easons s a -ups ails is inadequa e cash low managemen (B inckmann, G ichnik, & Kapsa, 2022).
On he o he hand, "Lack o suppo and guidance o na iga ing he unding p ocess" (Mean: 3.17, Neu al) had he
lowes mean sco e. This implies ha al hough some business owne s ha e ouble inding ad ice and help, i is no
gene ally ega ded as a signi ican obs acle. The neu al esponse would sugges ha he e a e some suppo ne wo ks ou
he e, bu hey migh no be adequa e o accessible o all new businesses (B own & Mawson, 2019).
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The g and mean o 3.42, which can be in e p e ed as "Ag ee," shows ha inancial di icul ies a e a signi ican conce n
o newly es ablished businesses. En ep eneu s gene ally ecognize ha hese challenges could impede hei business
ope a ions and g ow h, e lec ing he b oade challenges iden i ied in ecen s udies (Robb & Robinson, 2020).
Table 2.2. Challenges o Business S a -ups as o Ma ke En y and Compe i ion
Ma ke En y and Compe i ion
Mean
Ve bal
In e p e a ion
1. Iden i ying he speci ic needs and p e e ences o he a ge audience is di icul .
3.90
Ag ee
2. Unde s anding ma ke demand is ha d.
3.58
Ag ee
3. Building cus ome base is a big challenge.
3.92
Ag ee
4. The p esence o es ablished compe i o s wi h s ong b and ecogni ion and cus ome
loyal y.
4.08
Ag ee
5. Na iga ing go e nmen egula ions and legal compliance equi emen s is a bu den.
3.62
Ag ee
6. De eloping a unique and compelling alue p oposi ion in a c owded ma ke .
3.80
Ag ee
7. A ac ing and e aining skilled alen is ha d.
3.68
Ag ee
8. Changing ma ke ends and cus ome p e e ences is ha d o adop and main ain.
3.68
Ag ee
9. Building us and c edibili y wi h cus ome and s akeholde s is di icul o a ain.
3.47
Ag ee
10. Analysis o compe i o s’(SWOT) S eng hs, Weaknesses, Oppo uni ies, and Th ea s
is a big challenge.
3.83
Ag ee
11. Unp edic able u u e ma ke ends.
3.58
Ag ee
12. Technological ad ancemen impac .
4.02
Ag ee
13. Op imal p icing s a egy in he ma ke .
4.03
Ag ee
14. Cul u al nuances and social ac o s ha in luence consume beha io .
3.87
Ag ee
15. In ense compe i ion in he ma ke .
4.15
Ag ee
GRAND MEAN
3.81
AGREE
Legends: 4.21-5.00 S ongly Ag ee, 3.41-4.20 Ag ee, 2.61-3.40 Neu al, 1.81-2.60 Disag ee, 1.00-1.80 S ongly Disag ee
"In ense compe i ion in he ma ke " has he highes mean sco e o 4.15, acco ding o he da a shown in Table 2.2, which
indica es he di icul ies expe ienced by s a -ups in ega d o ma ke en y and compe i i eness. This sugges s ha s a -
up companies eally belie e ha one o he bigges obs acles is he exis ence o in ense compe i ion. New businesses ind
i di icul o ob ain ma ke sha e due o he eno mous obs acles c ea ed by well-es ablished compe i o s wi h g ea b and
ecogni ion. S udies co obo a e his, e ealing ha in ense i al y equen ly pushes s a ups o inno a e quickly o ace
alling sho o hei compe i o s (Mason & B own, 2020).
On he o he hand, "Building us and c edibili y wi h cus ome s and s akeholde s" has he lowes mean sco e (3.47).
E en while his is s ill seen as "Ag ee," i implies ha , despi e i s di icul ies, de eloping us could no be seen as being
as impo an as managing ma ke posi ioning and compe i i e challenges. Howe e , as e idenced by s udies highligh ing
he signi icance o c edibili y in a ac ing clien loyal y, es ablishing us is s ill essen ial o long- e m success
(Hecha a ia e al., 2022).
The g and mean o 3.81, in e p e ed as "Ag ee," shows ha s a -ups conside p oblems linked o ma ke en y and
compe i ion o be conside able in gene al. This is consis en wi h he la ge body o s udy on en ep eneu ship, which
iden i ies hese elemen s as c i ical o he success o ailu e o a s a -up (Al a ez & Ba ney, 2021).

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Table 2.3. Challenges o Business S a -ups as o Regula o y Hu dles and Legal Challenges
Regula o y Hu dles and Legal Challenges
Mean
Ve bal
In e p e a ion
1. Unde s anding and complying wi h complex egula ions is a bu den.
3.88
AGREE
2. Delays o challenges in ob aining necessa y licenses and pe mi s.
3.92
AGREE
3. Na iga ing legal pape wo k and con ac s.
3.83
AGREE
4. E ol ing en i onmen al egula ions impac ing p oduc ion p ocesses.
3.97
AGREE
5. Keeping up wi h changing egula ions and legal equi emen s.
4.02
AGREE
6. Regula moni o ing o changes in laws and egula ions a ec s he business.
3.97
AGREE
7. An icipa ion o new legisla i e de elopmen s may impac business ope a ions.
3.73
AGREE
8. Inc easing cos s associa ed wi h mee ing egula o y equi emen s.
3.80
AGREE
9. Renewal di icul ies o exis ing licenses.
3.63
AGREE
10. Heigh ened egula o y secu i y o in es iga ions in business ope a ions leading o
issuance o ines, penal y and sanc ions by egula o y au ho i ies.
3.95
AGREE
GRAND MEAN
3.87
AGREE
Legends: 4.21-5.00 S ongly Ag ee, 3.41-4.20 Ag ee, 2.61-3.40 Neu al, 1.81-2.60 Disag ee, 1.00-1.80 S ongly Disag ee
In acco dance wi h ecen esea ch highligh ing he egula o y bu den on s a -ups as a signi ican ac o ha can slow
down business ope a ions and esul in addi ional cos s, Table 2.3 e eals ha "Keeping up wi h changing egula ions and
legal equi emen s" has he highes mean sco e o 4.02. This indica es ha s a -up businesses s ongly ag ee ha s aying
complian wi h e ol ing egula ions is one o he mos c i ical challenges (Ba ik e al., 2021).
Howe e , "Renewal di icul ies o exis ing licenses" has he lowes mean sco e (3.63), which is s ill in he "Ag ee"
ange. This indica es ha while dealing wi h cons an ly changing egula ions may be mo e p essing han license enewal,
which s ill p esen s challenges. Addi ionally, esea ch backs up he idea ha , despi e he complexi y o license enewals,
i ms usually p io i ize managing he la ge egula o y landscape (Pa ke & Van P aag, 2022).
The g and mean o 3.87, in e p e ed as "Ag ee," indica es ha s a -up success is usually ega ded as being signi ican ly
hampe ed by legal and egula o y obs acles. These di icul ies highligh he necessi y o new companies o ha e obus
compliance plans and consul wi h legal p o essionals in o de o s ay ou o ouble inancially and main ain e icien
ope a ions (Law ence & Mo se, 2022).
Table 2.4. Challenges o Business S a ups as o Building Team and Talen Acquisi ion
Building Team and Talen Acquisi ion
Mean
Ve bal
In e p e a ion
1. Assembling he igh eam.
4.25
S ongly Ag ee
2. Rec ui ing skilled – pe sonnel – inding candida es wi h speci ic skills and
expe ience we need is di icul .
4.03
Ag ee
3. Managing Team Dynamics.
3.98
Ag ee
4. O e ing compe i i e sala ies and bene i s is challenging due o limi ed esou ces.
3.93
Ag ee
5. Employee dissa is ac ion and lack o engagemen make hem lea e.
3.68
Ag ee
6. The as -paced and unce ain na u e o s a -ups can be una ac i e o isk-a e se
candida es.
3.75
Ag ee
7. Ou emo e o lexible wo k a angemen s a e no appealing o e e yone.
3.33
Neu al
8. We lack es ablished ec ui men p ocesses and channels o e ec i ely a ac alen .
3.37
Neu al
9. Ou on-boa ding and aining p ocesses a e no well-de eloped, making i di icul
o emain new hi es (ca ee de elopmen pa h).
3.48
Ag ee
10. Compe ing wi h es ablished companies o alen is a signi ican obs acle.
3.73
Ag ee
GRAND MEAN
3.78
AGREE
Legends: 4.21-5.00 S ongly Ag ee, 3.41-4.20 Ag ee, 2.61-3.40 Neu al, 1.81-2.60 Disag ee, 1.00-1.80 S ongly Disag ee
I is e iden om Table 2.4 ha s a -up owne s ha e a di icul ime assembling a eam ha has he p ope combina ion
o alen s and compe encies. The highes mean sco e o 4.25 is no ed o "Assembling he igh eam," wi h a e bal
in e p e a ion o "S ongly Ag ee." This is in line wi h s udies showing ha one o he mos impo an challenges acing
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s a -up companies is inding op pe sonnel, since he success o a i m is equen ly de e mined by i s i s eam (Klo z e
al., 2022).
The s a emen , "Ou emo e o lexible wo k a angemen s a e no appealing o e e yone," ecei ed he lowes mean
sco e (3.33), wi h a neu al in e p e a ion. This shows ha al hough lexible o emo e wo k a angemen s p o ide ce ain
di icul ies, people do no iew hem as signi ican ba ie s. This esul is consis en wi h esea ch indica ing ha while
emo e wo k is becoming mo e and mo e common, no all wo ke s ind i pleasan , pa icula ly in s a up se ings
(F iedman & Sykes, 2020).
The g and mean o 3.78, which is classi ied as "Ag ee," indica es ha while s a -ups gene ally unde s and he alue o
assembling a good eam, hey ace a numbe o challenges ela ed o hi ing, e aining, and eam managemen . In o de o
ec ui and keep alen ed employees, s a ups mus p o ide compe i i e wage packages and ca ee de elopmen
oppo uni ies. This is because es ablished o ganiza ions a e ypically agg essi e compe i o s o alen (De a o, 2021).
Table 2.5. Challenges o Business S a ups as o Inno a ion and Technology Adop ion
Inno a ion and Technology Adop ion
Mean
Ve bal In e p e a ion
1. Insu icien inancial esou ces in in es ing new echnology.
3.82
Ag ee
2. Lack o access o necessa y echnology in as uc u e (e.g., high-speed in e ne ).
3.53
Ag ee
3. Limi ed echnical expe ise wi hin he eam.
3.60
Ag ee
4. O ganiza ional esis ance o change and new ideas.
3.62
Ag ee
5. Fea o ailu e and po en ial isks associa ed wi h inno a ion.
3.65
Ag ee
6. Unce ain e u n on in es men (ROI) om adop ing new echnologies.
3.43
Ag ee
7. Compe i ion om es ablished companies wi h g ea e echnological esou ces.
3.82
Ag ee
8. Rapidly changing echnological landscape making i di icul o keep up.
3.75
Ag ee
9. O ganizing agili y in emb acing eme ging echnologies.
3.78
Ag ee
10. Technology se es as an asse o he company.
4.05
Ag ee
GRAND MEAN
3.70
AGREE
Legends: 4.21-5.00 S ongly Ag ee, 3.41-4.20 Ag ee, 2.61-3.40 Neu al, 1.81-2.60 Disag ee, 1.00-1.80 S ongly Disag ee
Table 2.5's esul s e eals he di icul ies ha ce ain companies ha e, pa icula ly wi h ega d o inno a ion and
echnology. Technological asse s a e ega ded as essen ial o a business's ope a ions, wi h a mean sco e o 4.05,
highligh ing he signi icance o u ilizing echnology o compe i i eness. This is consis en wi h s udies ha highligh s
he necessi y o s a -ups in es ing in digi al solu ions and echnology ools in o de o s ay compe i i e in he ma ke .
S a -ups can s eamline ope a ions, cu expenses, and scale e ec i ely wi h he use o echnological asse s including
au oma ion ools, so wa e, and cloud compu ing (Chalme s e al., 2021). The high sco e indica es ha s a -ups s ongly
ag ee on he ole echnology plays in business success.
A signi ican ba ie s ill exis s, wi h a mean sco e o 3.53, despi e he signi icance o echnological asse s, access o
high-speed in e ne and o he necessa y echnology in as uc u e. The a o emen ioned inding unde sco es he endu ing
p oblem o digi al dispa i ies ha nume ous s a ups encoun e , especially in de eloping na ions o unde p i ileged a eas.
Acco ding o A ie a and Woods (2020), s a -ups may ind i mo e di icul o p ope ly u ilize echnological
ad ancemen s i he e a e digi al di ides in he a ailabili y and cos o dependable in e ne se ices. This gap es ic s he
po en ial o g ow h by making i di icul o businesses o ope a e, communica e, and access in e na ional ma ke s.
The g and mean o 3.70 indica es ha s a -ups gene ally concu wi h he di icul ies p esen ed by inno a ion and he
up ake o new echnologies. While inno a ion is essen ial o ma ke compe i i eness and dis inc ion, s a -ups equen ly
ace challenges because o hei lack o esou ces, expe ience, and knowledge. Acco ding o Roge s e al. (2021),
adop ing new echnology calls o a cul u al ans o ma ion ha emb aces change, ongoing lea ning, and accep ing isks
in addi ion o a mone a y commi men . These elemen s add o he di icul ies newly es ablished businesses encoun e in
main aining hei echnological acui y and in en i eness in a quickly changing business clima e.
Global J Res Bus Mng. 2025; 5(5), 44-54
@ 2025 | PUBLISHED BY GJR PUBLICATION, INDIA
51
Table 2.6. Challenges o Business S a ups as o Cus ome Acquisi ion and Re en ion
Cus ome Acquisi ion and Re en ion
Mean
Ve bal In e p e a ion
1. Limi ed b and awa eness and ecogni ion.
3.93
Ag ee
2. High p icing p oduc s and se ices.
3.82
Ag ee
3. Lack o speci ic p omo ions and discoun s/loyal y p og ams.
3.42
Ag ee
4. Di icul y in iden i ying and a ge ing ideal cus ome s.
3.28
Neu al
5. Va ious subs i u e p oduc s/se ices p esen in he a ea.
3.65
Ag ee
6. Lack o clea and di e en ia ed alue p oposi ion.
3.25
Neu al
7. Inabili y o e ec i ely build and nu u e cus ome ela ionships.
3.35
Neu al
8. Di icul y in measu ing and scaling cus ome acquisi ion and e en ion e o s.
3.28
Neu al
9. Rapidly changing cus ome p e e ences and expec a ions.
3.52
Ag ee
10. Fea u es and se ices don’ mee cus ome ’s needs.
3.68
Ag ee
GRAND MEAN
3.51
AGREE
Legends: 4.21-5.00 S ongly Ag ee, 3.41-4.20 Ag ee, 2.61-3.40 Neu al, 1.81-2.60 Disag ee, 1.00-1.80 S ongly Disag ee
The esul s o Table 2.6 e eal se e al o signi ican obs acles ha new businesses mus o e come in o de o a ac and
keep cus ome s. The bigges obs acles, acco ding o he mean sco e o 3.93, a e poo b and iden i ica ion and awa eness.
This is in line wi h esea ch conduc ed by Kelle (2022) ha emphasizes he impo ance o g ea b and isibili y o bo h
success ul ma ke pene a ion and consume loyal y. In a compe i i e ma ke , s a -ups ind i di icul o s and ou
wi hou a well-known b and, which impedes hei abili y o de elop.
E en while acqui ing new cus ome s is c ucial, he lowe mean sco e o 3.28 indica es ha s a ups s ill ha e ouble
pe ec ing hei clien segmen a ion ac ics. Acco ding o Royle and Laing (2021), many s a -ups lack a ho ough g asp
o he demands and habi s o hei cus ome s, which makes i di icul o e ec i ely iden i y and a ge he igh clien
ca ego ies.
The g and mean o 3.51 emphasizes ha , in o de o s a -ups o achie e sus ainable g ow h, clien acquisi ion and
e en ion con inue o be majo a eas o conce n ha need cons an wo k and s a egic imp o emen .
Table 3. Issues ha Impac he Success o Business S a ups
Issues
Mean
Ve bal
In e p e a ion
1. Inadequa e o un ealis ic business plans may esul in lawed s a egies, insu icien
esou ce alloca ion and di icul y secu ing unding.
4.22
S ongly Ag ee
2. A lack o s ong leade ship, ision and decision making can impede a s a -ups abili y
o na iga e challenges and execu e s a egies e ec i ely.
3.85
Ag ee
3. Inabili y o di e en ia e p oduc s o se ices om compe i o s may lead o
di icul ies in a ac ing cus ome s.
4.02
Ag ee
4. En e ing he ma ke oo la e o oo ea ly can a ec a s a -ups abili y o capi alize on
oppo uni ies and espond o changing ma ke condi ions.
3.90
Ag ee
5. Challenges in eam cohesion, communica ion and collabo a ion can hinde
p oduc i i y and inno a ion.
4.15
Ag ee
6. Lack o awa eness o compliance wi h indus y egula ions may esul in legal
challenges, ines, o epu a ional damage.
3.77
Ag ee
7. Failing o keep up wi h echnological ad ancemen s.
3.72
Ag ee
8. Failu e o c ea e and implemen e ec i e ma ke ing s a egies.
3.95
Ag ee
9. Lack o ho ough ma ke esea ch may lead o an inadequa e unde s anding o
cus ome needs, p e e ences and ma ke dynamics.
4.10
Ag ee
10. Insu icien inancial esou ces can hinde ope a ions, g ow h and he abili y o
wea he unexpec ed challenges.
4.02
Ag ee
GRAND MEAN
3.97
AGREE
Legends: 4.21-5.00 S ongly Ag ee, 3.41-4.20 Ag ee, 2.61-3.40 Neu al, 1.81-2.60 Disag ee, 1.00-1.80 S ongly Disag ee
Global J Res Bus Mng. 2025; 5(5), 44-54
@ 2025 | PUBLISHED BY GJR PUBLICATION, INDIA
52
Table 3 p esen s se e al b oad issues ha ha e an impac on he success o s a -ups. The issue ha esponden s a e mos
conce ned abou is inadequa e o un ealis ic business plans, wi h a mean sco e o 4.22. This highligh s he need o
s a egic planning and app op ia e esou ce alloca ion because businesses ha don' ha e s ong business plans ha e a
highe chance o ailing. Acco ding o Blank and Do (2020), ho ough planning is essen ial o o eseeing di icul ies
and gua an eeing long- e m success. While “Keeping Up wi h Technological Ad ancemen s” poses a subs an ial ba ie
e en wi h he lowes mean sco e o 3.72. Ha ing a compe i i e ad an age equi es being able o s ay echnologically
lexible, especially in ma ke s ha a e changing quickly. Kollmann e al. (2022) emphasize ha main aining echnical
inno a ion is essen ial o he g ow h and compe i i eness o businesses. The g and mean o 3.97 indica es ha mos
esponden s a e awa e o he signi ican in luence hese p oblems ha e on he success o s a ups. This esul is in line
wi h ecen esea ch ha emphasizes he complex obs acles ha s a ups encoun e in ie cely compe i i e ma ke s (Zhu
& K aeme , 2023).
Table 4. S a egies ha S a ups Employ o O e come Issues and Challenges Faced
S a egies
Mean
Ve bal In e p e a ion
1. Emb ace a Cul u e o Da a-d i en Lea ning.
4.47
S ongly Ag ee
2. Build a Lean and Agile Team.
4.37
S ongly Ag ee
3. Emb acing an agile me hodology o adap quickly o changing ci cums ances,
lea n om ailu es, and i e a e on hei s a egies.
4.38
S ongly Ag ee
4. Seek Men o ship and Suppo .
4.32
S ongly Ag ee
5. Main ain a Posi i e and Resilien Mindse .
4.37
S ongly Ag ee
6. Regula o y conduc ing ma ke esea ch o s ay in o med abou cus ome need,
ma ke needs and eme ging oppo uni ies.
4.35
S ongly Ag ee
7. Ac i ely seeking and inco po a ing cus ome eedback o e ine p oduc s o
se ices.
4.38
S ongly Ag ee
8. Fo ming pa ne ships wi h es ablished companies.
4.22
S ongly Ag ee
9. Main aining open and anspa en communica ion wi h s akeholde s (employees,
cus ome s, in es o s).
4.47
S ongly Ag ee
10. A ac ing and e aining op alen /key pe sonnel.
4.38
S ongly Ag ee
11. De eloping obus c isis managemen plans and con ingency s a egies.
4.17
Ag ee
12. S aying ab eas o echnological ad ancemen s and os e ing a cul u e o
inno a ion.
4.08
Ag ee
13. Implemen ing e icien cos managemen p ac ices.
4.23
S ongly Ag ee
14. Engaging in ne wo king ac i i ies.
4.23
S ongly Ag ee
15. Iden i ying po en ial issues and challenges o add ess hem be o e hey escala e.
4.32
S ongly Ag ee
GRAND MEAN
4.28
STRONGLY
AGREE
Legends: 4.21-5.00 S ongly Ag ee, 3.41-4.20 Ag ee, 2.61-3.40 Neu al, 1.81-2.60 Disag ee, 1.00-1.80 S ongly Disag ee
The s a egies used by s a -ups o modi y hei ack and ge o e obs acles a e essen ial o hei long- e m iabili y and
success. Table 4 indica es ha s a -ups s ongly ag ee on he alue o p ese ing a cul u e o da a-d i en lea ning and
open communica ion wi h s akeholde s. These wo aspec s o he s a -up cul u e ob ained he highes mean sco e o
4.47. The cu en awa eness ha in o med decision-making and s akeholde in ol emen a e essen ial componen s o
esilience in unce ain si ua ions is e lec ed in his emphasis on lea ning and communica ion (McKinsey & Company,
2021).
S a -ups place a high alue on adop ing agile app oaches (mean = 4.38) and c ea ing a lean and agile eam (mean =
4.37), demons a ing he signi icance o lexibili y and adap abili y in as -paced business en i onmen s. Acco ding o
ecen esea ch, s a -ups need hese a ibu es in o de o be compe i i e and eac as o shi ing ma ke condi ions
(Rigby e al., 2020). Fu he mo e, pu suing men o ship (mean = 4.32) and keeping a esilien and upbea ou look (mean =
4.37) a e impo an s a egies. These a e consis en wi h esea ch on en ep eneu ial psychology, which emphasizes he
alue o suppo ne wo ks in p o iding guidance and insigh s o s a -up success, as well as he esilience needed o
o e come obs acles (Shephe d e al., 2020).
Acco ding o ecen ma ke ing s udies, such ac ics like ac i ely seeking ou clien inpu (mean = 4.38) and conduc ing
ma ke esea ch (mean = 4.35) a e essen ial o emaining in line wi h consume demands and indus y de elopmen s
(Kohli & Jawo ski, 2021). A combina ion o agile p ac ices, s akeholde engagemen , and con inuous lea ning can
g ea ly imp o e s a -ups' capaci y o success ully na iga e challenges, acco ding o he o e all g and mean o 4.28,
which indica es ha esponden s s ongly ag ee on he e icacy o hese s a egies.