Learning from Failure – Regulation Issues Need to be Dealt With

When thinking of your business, it is important to also consider how and to what extent Govt. regulation and policies can affect the same. There can be and have been cases where a good and innovative startup idea has been curbed and has eventually failed because of regulation issues.

Flytenow was a startup which closed because of this. It was a startup which was looking to connect aviation enthusiasts with pilots and go flying together. The Federal Aviation Administration in the US banned this startup and other flight sharing websites. Flytenow had to shut down eventually.

Advice – As a startup, you would not want to get on the wrong side of regulation. Keep that in mind if it can potentially affect your startup.