Why Do Startups Fail? [Infographic]
Want to create a startup and be the next billion-dollar man? While most of us look at the bright side, often saying to ourselves, if they could do it, I could do it too – how hard could it be? Well, as this infographic will tell you, the possibility of a failed startup is a lot higher than one that would make the cover of Times Magazine.
Out of 100 businesses that will start today, how many will last for longer than 5 years? Take a guess. Within 5 years, half of businesses will close shop, and in 15 years, only a quarter will survive. This info comes from Staff.com’s infographic "What’s the chance a startup business will fail?"
Although those stats work for businesses beginning in 1994, survival rates are dropping (albeit slightly) as competition rises. Find out which businesses are dropping like flies and which industries are the best to build a startup in. Share your thoughts!
Recommended Reading: Diving Into E-Commerce: Do You Have What It Takes?
Author: Alfredo K
Alfredo K is Hongkiat.com’s editor. He believes in working hard, and playing hard and hopes to one day publish his own travel guide for the food lover.