This month we’re looking at what makes a successful startup. UK Government statistics show that 672,890 businesses were set up in the 2018/19 tax year. On average 20% of new businesses fail in their first year and between 50 & 60% are expected to fail within 3 years. So, what is it that separates the wheat from the chaff? According to Investopedia and UK Government statistics, one of the main reasons businesses fail, is they neglect to investigate their market properly. “You have to find an opening or unmet need within a market and then fill it rather than try and push your product or service in”. A good business starts with a solid and realistic business plan. Once written, it is important that it is adhered to and budgets, strategies and targets are met. Other classic reasons for failure include lack of funding, lack of focus and failure to execute a successful sales and marketing plan. The continued focus on green finance , ESG and renewables post Covid is encouraging for us and the businesses we champion. 

                                                                       Top 10 Startup Mistakes
                                                                     100 First Hits – Infographic