Solving the Financial Barriers of New Innovative Startups in Jordan

Siam, Ahmad Zakaria; Rifai, Firas

doi:10.5539/jms.v6n3p106

Cited by 2 publications

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“…Recently, innovative startups contribute significantly to economic development (Siam and Rifai, 2016). As technology advances, many nascent entrepreneurs in the engineering and construction sectors have started to provide innovative solutions to existing pain-points in projects, changing the project environment in an incremental manner (Vasconcelos Fialho and Lordsleem Júnior, 2021).…”

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confidence: 99%

A study of growth barriers and mitigation measures for built environment innovative startups: the case of Hong Kong

Lam

Mok

2022

IJIS

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Purpose This study aims to identify the challenges facing innovative startups in the construction environment, recommending possible self-help measures and society support. Design/methodology/approach A comprehensive literature survey informed a questionnaire survey on built environment startups in Hong Kong, followed by a statistical analysis and supplemented by written views of respondents. Validation by experts confirms the survey results. Findings Triangulated findings highlight the problems of conservative policies, investors’ preference on short payback periods, price competition, high operation cost and a lack of promotion channels. The firm’s size and its age differentiate its networking and fund-raising capabilities. Research limitations/implications While the survey samples cover the spread of startups in Hong Kong’s construction/real estate industries well, the number is still limited because the city is relatively compact. The barriers and solutions may be particularly relevant to the built environment there, but also worth noting elsewhere. Practical implications Built environment startups are emerging and their path of development is obscured by industry barriers. While the findings reflect the current situation in Hong Kong, which is a metropolitan city with a vibrant construction market, government policies may present a varying factor in different economies. Conservatism in the construction industry may also be a hindrance, but gradual signs of improvements are seen. Originality/value The recommendations provided may help mitigate the problems of startup growth. They also provide insights into the construction “startup eco-system” worth the attention of policy makers and project managers, who may make better use of the innovative technology and services of built environment startups if the difficulties are alleviated.

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Section: Introductionmentioning

confidence: 99%

A study of growth barriers and mitigation measures for built environment innovative startups: the case of Hong Kong

Lam

Mok

2022

IJIS

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A Discourse on Entrepreneurial Discontinuance, Failure Rates, and Failed Business Models

Jamil

2022

Handbook of Research on Business Model Innovation Through Disruption and Digitalization

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Start-ups and micro, small, and medium-sized businesses (MSMEs) constitute the backbone of both developed and developing economies worldwide. However, start-ups and MSMEs in certain regions have not achieved the required level of contribution and has a high failure rate globally. To protect a new or existing firm, it is vital to understand what causes business failure and how each barrier may be controlled or avoided entirely. The purpose of this paper is to discuss concepts and causes of entrepreneurial discontinuance, start-up failure rates, and failed business models in order to showcase how they are hindering the growth of start-ups and MSMEs, contributing to their failure. By assessing the failure rate of MSMEs in developing economies, this paper highlights the potential of MSMEs and its prominence in economic growth, development, and diversification.

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Solving the Financial Barriers of New Innovative Startups in Jordan

Cited by 2 publications

References 0 publications

A study of growth barriers and mitigation measures for built environment innovative startups: the case of Hong Kong

A study of growth barriers and mitigation measures for built environment innovative startups: the case of Hong Kong

A Discourse on Entrepreneurial Discontinuance, Failure Rates, and Failed Business Models

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