Starting a business is a real adventure, full of ups and downs. That reflects the experiences and insights shared by participants in the PatENT project’s research. They come from all sorts of places—Ukraine, Morocco, Turkey, India, and Pakistan—bringing their own unique ideas and energy. Despite the differences, they all have one thing in common: they’re trying to figure out the best way to start and grow their businesses here in Lithuania.
Thinking about starting a business?
Many people we talked to haven’t started their business in Lithuania yet, but they’re eager to. The main hiccup? They need a bit more guidance and support to get going. It’s like they’re ready for the adventure but aren’t sure which path to take.
Bumps on the road
Starting a business comes with its share of challenges. Our respondents pointed out a few big ones:
- Language and culture: jumping into a new market is tough, especially with a language barrier or cultural differences.
- Funding: finding the money to start and grow a business is a common hurdle.
- Information and bureaucracy: getting clear info on how to set up a business and wading through paperwork can be daunting.
- Networking and knowledge: knowing the right people and the right steps to take is crucial but can be hard to navigate.
The patent puzzle
Interestingly, most folks haven’t tried to get a patent in Lithuania but would like to. It shows there’s a lot of untapped potential for new ideas and inventions waiting to be explored.
Learning is the key
There’s a strong appetite for learning more about running a knowledge-intensive business, especially about patents and innovation. It’s clear that with the right training and resources, these aspiring entrepreneurs could really make a splash.
What are people interested in?
The areas that caught the most interest for business ideas were ICT (like tech and software), food, and health. This variety shows there’s a wide range of opportunities to explore.
Essentials for success
According to the survey, knowing your way around marketing, sales, and the digital world is crucial for a successful business today. But it’s not just about selling; innovation, financial management, and understanding your team are just as important.
Always learning
Many of the entrepreneurs we talked to are keen learners, diving into courses, workshops, and any chance to gain new skills. It’s a reminder that the path to success is always under construction, and staying curious is your best tool.
So, what now?
The big takeaway? There’s a lot of enthusiasm and potential for new businesses in Lithuania, but finding the right support and information can make all the difference. Whether it’s learning new skills, understanding the legal stuff, or getting your great idea patented, there’s a journey ahead filled with opportunities.
