Business Matters!! Some Business Facts!!

The success rate of small businesses varies significantly based on several factors, including proper setup and support mechanisms. Generally, about 70% of new small businesses survive the first two years, and around 50% make it to the five-year mark​ (Review42)​​ (The Zebra)​. However, businesses that start with robust planning, adequate funding, and strategic support, such as through business incubators, have much higher success rates. For instance, businesses that go through incubator programs have a five-year survival rate of about 87% compared to 44% for those that do not receive such support​ (Business News Daily)​.

Success also depends on the industry, location, and economic conditions. Businesses in high-cost states or those heavily impacted by regulations and high wages may have higher failure rates​ (DomainWheel)​. Conversely, businesses that leverage modern technology, maintain strong online presences, and adopt flexible business models tend to perform better in the current economic landscape​ (The Zebra)​.

With these known statistics above, book us today to get your business setup correctly, including your business credit.