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two important causes for the rise of Jainism and Buddhism:-
In the Later Vedic Period, the rigid caste system, monopoly of the priests for expensive rituals, difficulty of the common people to understand Sanskrit language etc. confused the society very much. So people wanted an easy going performance in the religion and practice, hence they were naturally attracted to Jainism and Buddhism. Both Jainism and Buddhism were founded by Two Kshatriya-princes i.e. Mahavira and Gautam Buddha. These two religions followed non-violence, which was also preferred by the farmers due to the safety of their animals against sacrificing them for rituals.
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The two causes are:-
Religious factors - complex and expensive vedic rituals, Upanishads being highly philosophical in nature, etc.
Social factors - rigidity of caste system, domination of priestly class, etc.