Why do startups fail?

• 42% fails because there was no market need for the company.
• 29% runs out of cash.
• 23% have the wrong team or can’t work well together.
• 19% are outcompeted.
• 17% has no adequate business model.

Read about what it takes to start a business here.

Fast Facts: Big Mac Index

• The Big Mac index measures the purchasing power of money
• ‘Burgernomics’ was the brainchild of the Economist magazine
• A Big Mac in Switzerland will cost you more than $6, yet in Malaysia you’d be paying $2.5
• 120 countries in the world have McDonald’s restaurants
• Cost of a Big Mac is determined by the price of the ingredients, but also by tariffs, taxes, fixed costs, competition from similar products.
• In the US the price of the double-decker burger has risen by 40% over the last 10 years.

Fast Facts: Coffee

• The price of takeaway coffee has increased by as much as 25%
• Cost pressures are to blame (less coffee beans available, transport costs are up, fertilizer is more expensive and labour costs are higher)
• 60% of our beans are the arabica variety; Brazil is the biggest producer of it
• 2 billion cups of coffee are consumed daily across the globe
• Ethiopia is believed to be the birthplace of coffee

Fast Facts Startups

• 60% of GenZ aspire to be entrepreneurs (according to the Junior Achievement Survey of a 1000 13–17-year-olds).

• 45% of these young and aspiring entrepreneurs say they prefer to learn the ropes of entrepreneurship from current business owners.

• Most young people want to learn more business skills at school.

• 340,500 new startups were registered in the UK in the first 6 months of 2021.

• $25.2 billion of global venture funding went to Blockchain startups in 2021, a 713% increase on the year before.