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Why startups fail in an emerging economy: perspectives from startup incubators in Kosovo

Author

Listed:
  • Besnik Avdiaj
  • Gentrit Berisha
  • Besnik Krasniqi
  • Veland Ramadani

Abstract

Notwithstanding the importance of startups for the economy, their failure rate continues to perplex researchers and policymakers alike. This study aims to unravel the interplay of multifaceted factors that lead to startup failure (SF) in an emerging context. The paper takes an exploratory, qualitative approach to startup ecosystem development in Kosovo, focusing on SF. Data was collected using semi-structured interviews with representatives of four incubators. Thematic analysis is used to extract, group, and examine interview data. Findings reveal several causes of SF, grouped into three levels: individual, organisational, and environmental. The most common factors are related to financial challenges, product-market fit, team dynamics, entrepreneurial mindset, ecosystem support, industry-specific factors, and institutional barriers. The novelty of this research is that it focuses on an under-explored context, like the emerging economy, and it also provides insights for academia, policymakers, and ecosystem practitioners in similar contexts.

Suggested Citation

  • Besnik Avdiaj & Gentrit Berisha & Besnik Krasniqi & Veland Ramadani, 2024. "Why startups fail in an emerging economy: perspectives from startup incubators in Kosovo," International Journal of Globalisation and Small Business, Inderscience Enterprises Ltd, vol. 14(2), pages 168-192.
    • Handle: RePEc:ids:ijgsbu:v:14:y:2024:i:2:p:168-192
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