Scrutiny of the Key Constraints and Opportunities for Startups' Growth: A Case of Bhutan

Abstract

The study aims to explore and analyze the key constraints and opportunities for business startups' growth in Bhutan. This qualitative study is based on an in-depth interview with 15 startup entrepreneurs at Startup Centre located at Changzamtok, Thimphu, Bhutan. It used semi-structured interviews and thematic analysis to identify key constraints and opportunities for startups' growth in Bhutan. The study segregates key constraints and opportunities that influence the startups’ growth. The constraints that impede the growth of startups were identified as finance, entrepreneurial spirit, production and marketing, human resource, and acquisition of raw materials. Besides, factors such as education-work area disparity, the global pandemic and lack of market research were also seen as potential constraints. Most importantly, the opportunities propelling the growth of startups in Bhutan include; government support and initiatives, technology integration, education and training, financial support, and buying culture. The responses for this study were collected from multiple sectors, however, to develop a deeper understanding, there is a future scope for sector-specific studies.