This is why startups fail in the first three years

Creating a startup is considered a cool thing, but despite the good idea, a lot of people fail in the first three years after the launch. “The first years are typically the most critical for startups. If entrepreneurs take the obstacles well at the beginning, assess their opportunities well and have somewhere to turn for help, they are more likely to remain operational in the long term. The start it @K&H incubator program provides them with support during these decisive initial steps, where expert mentors help them overcome difficulties and promote their further development,” said Balázs Németh, head of innovation at K&H. According to the 2021 research by CB Insights, the top 5 reasons why companies fail at the outset are: there is no market demand for them, they have run out of money and failed to raise new capital, they are being swallowed up by competitors, their business model is flawed, and were unable to cope with regulatory and legal challenges. But how to prevent all this? During the presentation and workshop held at this year’s Startup Safari event, in the start it @K&H incubator, Anita Mészáros, business development consultant, and Paris Noble, co-founder of the Elevate business consulting company, revealed that in order for a startup to be profitable and survive in the long term, two important criteria must be met be fulfilled.