Good news Entrepreneurs! The US SBA (Small Business Administration) statistics report that 2017 was the highest rate of new business first-year survival in a decade. Ignore those false rumors that state 90% of all startup businesses fail in their first year. Instead, it is almost precisely the opposite; with nearly 80% of new companies launched succeed! The Office of Advocacy report also reports that over 50% of new companies survive for five years or longer.
American small businesses have created over 61.8% of all new jobs annually for the past 24 years. That is especially impressive since this period includes two recessionary periods. Small business has always been the backbone of our nation’s economy. In fact, 99.9% of all firms are considered small businesses, within under 500 employees. Startups are 8% of this total on an annually adjusted rate since 2010.
This encouraging news helps aspiring business owners who were concerned with these dismal rates of failure previously publicized. Go ahead and start your own business and launch your success. Good luck.
About the Author:
American small businesses have created over 61.8% of all new jobs annually for the past 24 years. That is especially impressive since this period includes two recessionary periods. Small business has always been the backbone of our nation’s economy. In fact, 99.9% of all firms are considered small businesses, within under 500 employees. Startups are 8% of this total on an annually adjusted rate since 2010.
This encouraging news helps aspiring business owners who were concerned with these dismal rates of failure previously publicized. Go ahead and start your own business and launch your success. Good luck.
About the Author:
Marsha Kelly sold her first business for more than a million dollars. She has shared hard-won experiences as a successful serial entrepreneur on her Best4Businesses blog, where she also regularly posts business tips, ideas, and suggestions as well as product reviews for business readers. As a serial entrepreneur who has done “time” in corporate America, Marsha has learned what products and services really work well in business today. You can learn from her experiences to build your business.
