I’m sure you’ve heard the statistic that nine out of every ten businesses fail. For those of you in the beginning stages of a business, or even thinking about starting one…that’s a pretty harsh number that can scare some away from investing their time and money. Based on this number, 90% of all [...]
I’m sure you’ve heard the statistic that nine out of every ten businesses fail. For those of you in the beginning stages of a business, or even thinking about starting one…that’s a pretty harsh number that can scare some away from investing their time and money. Based on this number, 90% of all business attempts fail!
Now enter the teller of good news! That statistic is highly exaggerated! In reality 65% of new businesses are still operating after four years according to the U.S. Census Bureau’s Business Tracking Series. On top of this, about a third of the statistics that show a business to be a failure may actually be a success. How so? Those business may have closed because the owner sold a portion of the business or may have sold the entire thing for another opportunity.
Debunking this myth is great news for those looking to get into business. Your chances of success went from 10% to 65+%! So don’t just think about it…do it!
[Source: Business.com]
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Manufacturer and reseller of aftermarket car parts
IT solutions based out of Maryland. From homeusers to mid-sized businesses.
My name is David Pitlyuk and I’m an entrepreneur. I’m always on the lookout for the next big opportunity. This blog hits topics of interest for entrepreneurs, as well as my miscellaneous ramblings.
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©2008 David Pitlyuk
Roger Anderson
07/03/2007 12:36 pmYou did not read the original data and your wishful thinking has led you astray. It is not as rosy a picture as you would like to think.