Your business has a 60% chance of failing
Can you beat the odds?
The late 2000’s financial crisis has made it much more difficult for small businesses
to survive and flourish.
The late 2000’s financial crisis has made it much more difficult for small businesses
About $750 billion worth losses had been recognized amongst financial firms around the globe.
Approximately 552,600 new employer firms opened in 2009, and 660,900 firms shut down
According to the Bureau of Labour analysis, these are the small business failure
statistics by year of existence:
34% of small businesses close in the first 2 years. 54% are not in existence by the 4th year. 66% are not in existence by the 10th year:. 74% don’t make it past 15 years.
These survival rates do not vary much by industry.
Source: U.S. Dept. of Labor, Business Employment Dynamics (BED).