Asked by Ashley Sanchez on May 08, 2024
Verified
Statistics on small business failure rates indicate that 60 to 80 percent of new businesses fail in their first five years of operation.
Small Business Failure Rates
The percentage of small businesses that cease operations within a certain period, often used as an indicator of the small business sector's health or economic conditions.
New Businesses
Enterprises that have been recently established, focusing on entering a market with innovative products or services.
- Recognize the challenges and failure rates of new businesses.
Verified Answer
TH
Termaine HughesMay 14, 2024
Final Answer :
True
Explanation :
This statistic is accurate and widely cited in the business world.
Learning Objectives
- Recognize the challenges and failure rates of new businesses.