Sherab Lhamo

Several startups at Thimphu’s startup Changzamtog centre are facing closure due to challenges in meeting monthly rent obligations.

The Royal Audit Authority Report revealed that the Regional Office of Economic Affairs, has not collected rent amounting to Nu. 0.224 million from the startup centre.

Currently, the incubation centre accommodates 36 incubatees.

Amidst these difficulties, some entrepreneurs are considering going to Australia for better prospects.

Jangchub Dorji, an entrepreneur with three years of experience, highlighted the short duration of the incubation period, which lasts only two years.

He emphasised that this timeframe is insufficient for startups to establish themselves and explained the time-consuming process of acquiring machinery, marketing products, and bringing them to market, often exceeding the two-year incubation period.

In an article by Entrepreneur Bhutan, the president of the Association Bhutan of Cottage and Small Industries (ABCSI) acknowledged the challenges faced by startups within the limited two-year period.

He urged the government to extend the incubation period to five years to provide startups with a better chance of success.

Kinley Yonten, another entrepreneur, emphasised the potential for startups in emerging markets, citing the growth of Cottage and Small Industries (CSI) markets worldwide as an opportunity for business expansion.

Some entrepreneurs admitted to facing difficulties in managing their personal and business finances separately, highlighting the importance of financial discipline in business management.