As I was reading a few posts in a LinkedIn Small Business Group, a discussion was debating the success rate of small business survival. It reminded me of a tough economic business cycle and personal time I was experiencing in 1993. I was getting close to entering my 10th year in business. When I brought this up to someone, he or she told me you have it made with a small business once you last five years. That was certainly not a true statement for my business and probably, a whole lot of other businesses as well.
Below is a link I recently read on the Investopedia.com. I certainly agree with many of the potential failures and probably could add more. It’s worth the read.
Top 6 Reasons New Businesses Fail
Enjoy your day!