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I'm not sure I understand you correctly, but he's saying that startup founders tend to be young, probably due to the risk profile of startups vs small businesse
by mgummelt 14y ago
I'm not sure I understand you correctly, but he's saying that startup founders tend to be young, probably due to the risk profile of startups vs small businesses. Entrepreneurs as a whole (a much larger group) may well be in their forties on average, though.
Edit: Does anyone happen to know the success rate (for some definition of success) for restaurants?
- reissbaker 14y agoAccording to this[1] Bloomberg article, failure rate is roughly 60%. Failure rate is defined as changing ownership within three years of founding. Pretty low failure rate, compared to a startup. [1] http://www.businessweek.com/stories/2007-04-16/the-restaurant-failure-mythbusinessweek-business-news-stock-market-and-financial-advice http://www.businessweek.com/stories/2007-04-16/the-restauran...
- mgummelt 14y agoFunny that ownership change is usually considered a startup success.