It’s no secret that most start-ups don’t succeed. In fact, more than two-thirds never deliver a positive return to investors.
According to a recent Skynova study, 47 per cent of start-up failures in 2022 were due to a lack of financing, nearly double the percentage that failed for the same reason in 2021. Running out of cash was behind 44 per cent of failures, while 33 per cent of start-up failures were attributed to the Covid-19 pandemic’s wide-ranging effects on business and the broader economy.
Start-up founders often rely on their knowledge and experience, or that of external consultants, and mentors. And almost 60 per cent of almost 500 founders polled by Skynova said they would have done more market research prior to launching.
What if they relied on artificial intelligence to help them put together a business plan? This is what Hotball.ai intends to offer.
Maksym Nagara, the founder and CEO of Hotball.ai and the founder and leading consultant of Bezmezh.Consulting, talks with Andrew Wrobel about how the firm’s solution can help start-ups understand strategy and plan better.
They also talk about the reasons why start-ups often fail and how AI can help small businesses grow in a sustainable way.
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