[Infographic] What’s The Chance A Startup Business Will Fail?
We’d be the first to encourage entrepreneurs in their startup journeys, but we also feel that founders need to be cognizant of failure.
Part of the process in understanding the chances of failure is to take a look at the survival track records of startups in different industries. Do you know that independent restaurants and retail stores are two of the businesses most likely to fail, with 60% of them failing within the first five years? On the other hand, e-commerce and online publishing businesses are thriving in the US, with the former expecting a 52% projected revenue increase from 2012 to 2017 while the latter is forecasted with a 110% projected growth during the same period.
Here’s an infographic from Staff.com that shows you these numbers and more:
Daniel Goh is the founder and chief editor of Young | Upstarts, as well as an F&B entrepreneur. Daniel has a background in public relations, and is interested in issues in entrepreneurship, small business, marketing, public relations and the online space. He can be reached at daniel [at] youngupstarts [dot] com.