When most people see well-established people in business, they imagine that it was a smooth ride full of profits that came flowing like a river. As much as this is the dream for most people who are venturing into entrepreneurship and business, it is far from the truth. The road that leads to business success is rough. Save for a few exceptions, most people who are just starting out in business have sad tales of how challenges and discouragement can be the order of the day. There are some who stick on their goals and focus on finishing the race, while there are those who get overwhelmed and bow out. Simply put, entrepreneurship can be challenging.
Entrepreneurs and small start-up companies are always looking for people who can support them. Welcome to docklandsinnovation.ie, the website that looks into initiatives, institutions, and organisations that can promote entrepreneurship and new business enterprises in Ireland. Any business person who is in Ireland and beyond will associate with the well researched and authoritative content on this website.
Challenges Faced By Entrepreneurs and New Businesses
For you to understand how initiatives, organisations, and institutions can step in, you first need to appreciate some of the unique challenges the entrepreneurs face. In Ireland, there are things like taxation that weigh heavily on businesses. Some small scale businesses always end up closing when they realise that the tax being expected from them is a lot more than the profits they could possibly make.
It can also become very challenging for the businesses that are coming up to get a good lease that is cheap enough to allow them to operate. Most lease agreements for businesses assume that business people are making a lot of money and this ends up putting the price of renting business space too high for entrepreneurs to afford. It is not uncommon to see auctioneers hovering around such buildings when the businesses have been unable to raise the fee.
Due to the lack of jobs, most people are plunged into the world of business as a fallback plan, yet they do not have the right skills and training to run a business. It never ends well, as most business people who are starting out find themselves feeling very confused over business terminologies and basic business requirements like filing tax. This website explores those challenges, bringing to the fore the main reasons why some good business ideas in Ireland never make it beyond three years.
How Initiatives, Organisations, and Institutions Can Help
Despite the challenges that entrepreneurs face, all is not lost. There are still people, including organisations and institutions that can rise to help. On this website are some basic things that organisations can do if they want to support small businesses. Something as basic as offering to mentor someone who is just starting out in the field of business can change the entire trajectory on the direction their business takes. There are also some benefits that these institutions can get by working with startup companies, such as developing an opportunity for partnerships, getting recognised by business bodies, and leveraging on their market by incorporating some of the entrepreneurs. It can be a symbiotic relationship that focuses on building people who are in businesses that are just starting up. It is never too late for institutions to step up and help, and there is never any help that is too little to go unnoticed.