1. Challenges and
Opportunities of
Emerging Businesses
Emerging businesses face unique challenges and opportunities in the
dynamic world of entrepreneurship. Here are some of the key challenges and
opportunities, along with examples to illustrate each...
2. The Challenge of Limited Resources
Limited funds impact talent acquisition
Start-ups often struggle to attract top-tier talent
because they lack the resources to pay the same
high salaries and benefits as established tech giants
in the area.
Investment in technology can be
challenging
Emerging businesses may struggle to invest in key
areas such as technology due to limited financial
resources, hindering growth and competitiveness.
3. The Challenge of Market Competition
Saturated markets
with established
competitors
A new online store trying to
compete with Amazon faces
intense competition, making
it challenging to attract
customers and generate
revenue.
Costly strategies to
gain market share
Establishing a foothold in a
highly competitive market
can be expensive, which is a
significant challenge for
emerging businesses who
have limited financial
resources.
Branding efforts
require large
investments
Building a brand requires
significant resources,
making it difficult for
emerging businesses to
establish themselves as
reputable players in their
respective industries.
4. Regulatory Hurdles:
Navigating Compliance
1 Lack of resources to hire legal experts
Emerging businesses may face complex regulations and compliance
requirements, which can be difficult to navigate without the resources
to hire legal experts.
2 Different standards in different regions
Expanding into new territories means navigating different regulatory
requirements and complex cross-border compliance issues,
presenting significant challenges for emerging businesses.
5. The Challenge of Building Brand
Recognition
1 Establishing brand awareness
takes time
Building a brand requires consistent
effort and strong messaging across all
platforms to establish recognition and
loyalty.
2
Skepticism from established
consumers
New brands may face skepticism from
consumers who are used to buying
products from well-known, established
brands, making it difficult to establish
trust and credibility.
3 Fierce competition in
marketing space
Brands must compete with established
players with more significant resources,
leading to a crowded marketing space
that can be challenging to break
through.
6. The Opportunity of Innovation and Agility
Nimbleness to adapt to changing
markets
Emerging businesses can leverage their agility to
quickly adapt to changing market conditions and
take advantage of new technology advancements to
gain a competitive advantage.
Ability to pivot in response to
challenges
Emerging businesses can pivot and change
directions quickly in response to challenges,
allowing them to be more responsive and adaptive
than larger, more bureaucratic organizations.
7. The Opportunity of Digital Marketing
Cost-effective global reach
Emerging businesses can leverage online
marketing and social media to reach a global
audience, even with limited budgets, driving
engagement with a target market.
Easy and fast audience feedback
Digital marketing offers unprecedented options
to accurately target, engage and get reviews
from audience and to make necessary changes
quickly to enhance performance, creating a
strong online presence.
8. The Opportunity of Access to Funding
1 Venture capital can accelerate
growth
Emerging businesses can access
venture capital or angel investor funding,
providing a boost to growth, innovation,
and successful market entry to secure a
competitive edge.
2
Crowdfunding broadens reach
Crowdfunding platforms provide access
to funding for emerging businesses while
allowing entrepreneurs to gather
feedback and build a community around
their brand.
3 Government grants fuel
innovation
Emerging businesses may qualify for
government grants, providing a stable
stream of funding to fuel innovation and
development.
9. The Opportunity of Partnerships and
Collaborations
Credibility and access
Emerging businesses can form strategic
partnerships with established brands, gaining
access and credibility while leveraging their agility
and creativity to expand their reach and horizons.
Shared resources and skills
Strategic partnerships provide a unique opportunity
to share knowledge, experience, and resources,
enhancing the competitive edge of emerging
businesses in the market.
10. Summary
1 A unique set of challenges and
opportunities
Emerging businesses must navigate a
dynamic landscape of entrepreneurship,
which involves investment in key areas such
as marketing, technology, and talent
acquisition while breaking through
established competition and regulatory
hurdles.
2 Success requires perseverance
and adaptation
Innovation, digital marketing, funding access,
and strategic partnerships provide unique
advantages to emerging businesses.
Success depends on the ability to adapt and
creatively retain an edge in the market.
