Yes, but it means the relative percentages are not meaningful. Even if your where to simply normalize them to total 100%. Likely the servey was, "list 3 or mor

Yes, but it means the relative percentages are not meaningful. Even if your where to simply normalize them to total 100%. Likely the servey was, "list 3 or more reasons why your startup failed," and then the top three where used in this list. This can be used for voting and ranking but deriving a percentage is inappropriate. Someone's 3rd choice may be only 1% of the reason they think they failed. there is no concept of relative percentage between the three choices of a single respondent. If anything it is the set of three answers the respondent considers salient, in which case they are inseparable. They might have answered quite differently if they where asked "what is the single most important reason your startup failed." Which is what this article claims it is listing.