The 50 entrepreneurs in the study by Profs. Sharda S. Nandram and Karel J. Samsom mentioned a total of 65 negative factors that hindered their venturing efforts.

• Team – history with the firm. Firms that had been taken over faced the problem of unmotivated or de-motivated employees with too much resistance to change.


• Team – own capacity and expertise. Team capacity and expertise refer, for example, to not being prepared for the skills needed to start-up, not having the accounting expertise, not being able to master the art of persuasion, not being a good networker, and not being familiar with technology.


• Team – personnel. Quality of the team refers to the employees that were hired and did not match the expectations of the entrepreneur, or difficulty assembling a good team of employees.


• Market – knowledge. Entrepreneurs related their negative experience during the start-up to a lack of specific market knowledge.


• Market – impact. Negative factors mentioned refer to, for example, changing markets because things needed more time, difficulty in finding a first project,