More businesses fail than survive in their first 10 years.
About 50% of businesses survive to see their 5th birthday.
Only 35% survive to see their 10th birthday.
The flip side of those numbers is one-half of businesses fail in the first five years of their existence.
And 65% fail in the first ten years.
I created an interactive dashboard to explore the business success and failure results that are in the image above. Click here to interact with the dashboard and see the full discussion of the results.
Once you click the link here, you can mouse over the graphs in the dashboard to see more detail about the success and failure rates. You can change the “Year Business Started” date to see that the rates do not change much over time.
A Quick Start Guide to Financial Forecasting: Discover the Secret to Driving Growth, Profitability, and Cash Flow Higher provides a straightforward, easy-to-understand guide to one of the most powerful financial tools in business: a reliable financial forecast. It will transform the financial future of your company and help you make better, faster, smarter business decisions. Order the book at Amazon. Or learn more here.