More startups succeed than previously thought since business startups are just as likely to succeed than fail in their 1st year as reported by the SBA Small Business Administration. This is good news for would-be entrepreneurs that have been scared off by these misleading statistics that are wrong!
Entrepreneurs, are you sick and tired of hearing the supposed facts from well-meaning friends and family about how the 95% of all business startups fail in the 1st year? What here’s your rebuttal, the real facts from the SBA small business report, stating that over 50% of all businesses startups survive year 1. The chart below from the US Bureau of Labor Statistics shows that about half of all new startups will succeed for 5 years or more, and about a 3rd is still in business up to 10 years later. This means that you have as much chance of succeeding as you do failing in your new business venture. Your odds of business success are actually 1 to 2, so much better than the opt-touted and false odds of 1-to-10 business closure.
So stop listening to naysayers and go start a business today. Here are 10 good reasons to start your own business
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.