4. Company management: foreseen or experienced problems

4. - Company management: Problems that are Experiencing in their Entrepreneurships or Expecting to Experience

Key Findings:

1) Most of the problems mentioned in the survey are classified as moderate or low importance. 2) The lack of skills and abilities to run the business, not feeling ready and the lack of entrepreneurial skills are the problems that stand out the most. 3) In the additional comments mentioned by the participants, they mention various problems that affect them as entrepreneurs both in the present and perhaps may affect them in the future: the lack of capital to finance their ventures, their incompetence in the sales area and digital marketing as little knowledge in the financial area.

• 100% of the issued problems are perceived as of moderate or low importance.

The biggest percentages where this trend is observed are the following issued problems: I lack the skills and knowledge to handle the business, 92%; I’m not yet ready and well-prepared to handle the business, 94,3%; I’m not capable to take control of all the functions the entrepreneur needs, 91,1%

• Of the issued problems, only on 4 of them, the answer percentage with high level of importance overcame 20%: 1) The enterprising process is very demanding in terms of family/friend relations and the sentimental load, 22.6% 2) Startup and managing a business is very demanding in terms of bureaucracy, also 22,6%. 3) Handling possible conflicts that come out of the business process, 20,2% 4) Managing costs and calculate prices are a challenge for me, 21,5%

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• Within the aforementioned 20, others mention problems related with: 1) Financing entrepreneurship among themselves: Lack of capital to start up the business and know-how; I lack capital; Today I don’t have the required capital to start up my business; How to expand my business to other fronts (with not much budget) and get an investor or the budget to make the business even more. 2) Sales and social media: The sales process is expensive and getting ideal customers; A strategy at the moment of collecting for a service; The most complex challenge we have for now is to establish a flowing and standardized sales process; Posting the product has become a challenge; Taking the business to the next level of sales; The main weakness is handling social media in order to expand and raise the sales.

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