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I was wondering that too. I found this article: https://advisorsmith.com/data/small-business-failure-rate/ https://advisorsmith.com/data/small-business-failure
by Johnny555 5y ago
I was wondering that too. I found this article:
https://advisorsmith.com/data/small-business-failure-rate/ https://advisorsmith.com/data/small-business-failure-rate/
AdvisorSmith found that 22% of small businesses fail within the first year, 32% fail within the first two years, and 40% fail within the first three years of business. Half (50%) of small businesses fail within the first five years, and two-thirds (66%) fail within ten years.
- EVa5I7bHFq9mnYK 5y agoWhat's the definition of "fail"? For example, I had a business that closed because profit dried up, but overall it earned pretty good coin for me, while it worked. I wouldn't say it was a "fail".
- joenathanone 5y agoThe whole profit drying up is the failure that is being referred to.
- EVa5I7bHFq9mnYK 5y agoAccording to that definition every person is a failure, because everyone eventually dies.
- Johnny555 5y agoThen it's a good thing that a successful person is not defined only by their work output.