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10 REASONS WHY SMALL BUSINESSES FAIL (AND HOW TO AVOID THEM)

Why do small businesses fail? That’s the million-dollar question. Starting a business is not easy, and there are countless statistics out there about the survival rate of startup companies. Here are a few popular ones: Only about 20 percent of new businesses survive their first year of operation. The U.S Census data shows that new business creation is nearly at a 40-year low. Half of small businesses fail within their first five years.

Whether you’re a seasoned small business owner or an entrepreneur just starting out, these statistics can be a little scary. What you probably don’t realize is the sample of small companies cited in these studies. Fit Small Business does an excellent job of debunking some of these numbers and defining the types of companies taken into consideration.
The point is that while there may be some truth to these numbers, you shouldn’t let it kill your entrepreneurial spirit…