4 ms·
Don't like 99% of small businesses fail?
by nickthemagicman 5y ago
Don't like 99% of small businesses fail?
- decafninja 5y agoI imagine the majority of those that don't fail aren't exactly on easy street either.
- nextweek2 5y agoLimited liability companies are there to protect you. I've known half a dozen wealth people who had gone bust 2-3 times before being running their current business. They make hay whilst the sun shines and expect the market to change in the medium term. Triggering a reset.
- topkai22 5y agoNot even close. The 5 year survival rate is around 50% and the 10 year survival rate is around 34%. Even the 25 year rate is close to 17%. I didn't quickly find any data on what causes business exits, but my guess is that the chance of "positive" exits (mergers, acquisitions, closing to transform to a new concept) gets pretty high at some point between year 5 and 10. See https://www.bls.gov/bdm/us_age_naics_00_table7.txt https://www.bls.gov/bdm/us_age_naics_00_table7.txt