Keywords
success
failure
challenges
Generation Z
Abstract
The aim of this article is to identify the challenges faced by startups and determine their impact on the possibility of success or failure. It achieves its goal by reviewing the literature on the subject, conducting a survey, and employing statistical methods. The paper presents research conducted among Generation Z. From the results, it can be concluded that key factors in the success of a startup include the ability to take risks, obtain financing for development, gain a competitive advantage, find a scalable and repeatable business model, and implement effective marketing and promotion activities. According to the respondents, the biggest factor in the failure of a startup is lack of knowledge about the market and customer needs, as well as legal, accounting, and tax issues.
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