Journal of Economics, Management and Trade

Aims: This study systematically seeks to synthesize the existing literature so as to yield an integrative analysis of dominant challenges and opportunities for new business start-ups, therefore becoming a repository for knowledge about starting a business for entrepreneurs and established organizations irrespective of size. The goal is to create a consolidated knowledge repository for entrepreneurs and established organizations, irrespective of size, to inform strategic decision-making.

Study Design: This study uses a systematic literature review methodology employing a qualitative synthesis relying for its methodology. To review and synthesize the results, ideas and themes reported in the included studies to generate an objective account of the identified challenges and opportunities for startup businesses.

Place and Duration of Study: This study was conducted in Bacolod City over three months (April-June 2025), with literature analyzed in 2025.

Methodology: This study did a thorough review of academic literature published between 2010 and 2025. Databases like Scopus, ResearchGate, and Google Scholar was used for identifying and using keywords such as "startup challenges," "entrepreneurial opportunities," and "startup ecosystem." The process involved screening and full-text review of relevant articles, with data extracted and synthesized thematically.

Results: The startup environment is fraught with risk, with failure often stemming from internal challenges such as limited financial resources, weak leadership, ineffective marketing strategies, and a disconnect between products and market needs. These internal difficulties are compounded by external factors, including underdeveloped entrepreneurial ecosystems, burdensome regulations, and cultural complexities that complicate partnerships. Despite these obstacles, startups can find pathways to growth by leveraging digital technologies, forming strategic alliances, and engaging with supportive policy frameworks and incubators. Ultimately, the findings underscore the persistent tension between the vulnerabilities inherent in startups and the practical measures that can foster their sustainable development.

Conclusion: This review shows that startup success depends on navigating complex challenges. It highlights that combining digital tools, strategic networks, and strong ecosystem support is key to reducing risks. Entrepreneurs must develop agility and capabilities, while policymakers and investors should create supportive environments and offer targeted funding to boost startup survival and growth.