An Empirical Study on Why People in Haryana Are Preferring Startup in Todays Era and The Challenges Faced

Abstract

Abstract: The term "startup" is the most buzzed word in the 21st century. It significantly affects the nation's economy. A startup is a young business founded by one or more entrepreneurs to produce distinctive and one-of-a-kind goods or services. It seeks to promote innovation and accelerate the development or standard of living of the society. Entrepreneurship, self-employment, and enterprise development can help to tackle the crisis of unemployment and slow economic growth. However, those that choose one of these three options need to overcome a number of obstacles, and such start-up businesses have a high failure rate. Lack of funding, price increases, and drawbacks from small scale economies are what led to the failure. The startup entrepreneurs were called in order to investigate the startup environment, problems, possibilities, and challenges they confront as well as their familiarity with governmental rules. The focus of the study was on how businesses see their journeys with particular reference to the startup scene in Haryana.