The Latest is in…

The latest statistics from the Small Business Administration (SBA) show that “two-thirds of new employer establishments survive at lease two years, and 44 percent survive at least four years.” This is a far cry from the previous long-held belief that 50 percent of businesses fail in the first year and 95 percent fail within five years.

Brian Head, Economist with the SBA Office of Advocacy
, noted that the latest statistics are a much more accurate assessment of new business success rates, and that “as a general rule of thumb, new employer businesses have a 50/50 chance of surviving for five years or more.”

Better success rates notwithstanding, a significant percentage of new businesses do fail. Expert opinions abound about what a business owner should and shouldn’t do to keep a new business afloat in the perilous waters of the entrepreneurial sea.

There are, however, key factors that — if not avoided — will be certain to weigh down a business and possibly sink it forevermore.

Get the answer to avoid this factor….. Strategic Thinking

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