One in two founders of tech start-ups (52%) says it took them much longer than they expected to launch their business.
In a survey of 100 London tech entrepreneurs by Studio Graphene, 15% also said that launching their business was ‘far more expensive’ than they predicted. Almost one quarter (22%) found the experience more emotionally draining than they thought it would be.
The main challenges faced by tech start-ups in their first year of business include acquiring customers (33%); obtaining funding to develop an initial proof of concept (22%); finding support to build the technology itself (15%;) and hiring the right employees (12%).
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