What is a startup? A simple guide for Pakistan
A startup is a young company built to grow fast by solving a problem in a new way. How startups differ from small businesses, with Pakistani examples.
A startup is a new company designed to grow quickly, usually by using technology to solve a problem in a new way.
Startup vs small business
- Small business: a shop, restaurant or agency that grows steadily in one area
- Startup: aims to serve many customers in many cities or countries, often through an app or website
Pakistani examples
- Bykea: bike rides and deliveries through an app
- Zameen.com: property listings online
- Daraz: online shopping marketplace
What most startups need
- A clear problem people will pay to fix
- A product that solves it
- A way to reach customers cheaply
- Funding, either from revenue or investors
Related
- 5 Pakistani startups that made headlines
- Startup glossary: 15 terms explained