I was doing a search for something else and the above statistic showed up. I disagree with it, according to the US Bureau of Labor Statistics, only a quarter of businesses fail in the first year; and half die within five years.
The rational for the failures given was valid, but them most people could guess it, it’s money. Here is what was offered:
Business owners say they’ve failed because the money ran out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an industry expert. Ways to avoid failing include setting goals, accurate research, loving the work, and not quitting.
Like I stated, I see these as valid reasons.