Why Do Small Businesses Fail

Youve heard it before: Half of all small businesses are doomed to fail before their first year is out.

Youd think this statistic would put people off of opening small companies especially high risk ones like restaurants and retail stores but this doesnt seem to be the case.

When it comes to functionality, the general statistics are equally dire.

Statistics only get more discouraging as time goes on: 95 percent of small businesses are doomed to fail within five years. (Complete infographic below)

Of all the small businesses out there, we see:

  • only 40 percent of them are profitable;
  • 30 percent break even and
  • another 30 percent are doomed to only lose money.

Why does the small business do so badly in a country where owning one is part of the national dream?

It appears that many new restaurant and retail store owners have trouble with the business aspects of their business. It turns out that, for new business owners, knowledge about how to run a company tends to be lacking.

Click here: 
http://www.jonrognerud.com/images/small-business-failure-stats-infographic.png


About 

Jon Rognerud is the #1 online marketing expert for Entrepreneurs. His best-selling SEO book, "The Ultimate Guide to Search Engine Optimization" from Entrepreneur Press/McGraw-Hill is in bookstores now. Act fast, and get a free gift here. Connect with Jon on Google+




MORE NEWS

The Largest Canadian Infrastructure Project in History Goes Ahead
Visit ADIPEC 2018 to source 1000s of products and services for the oil and gas industry
Where is healthcare going. Get the Report
20 Percent OFF Tuesdays for MyCLUB
Win a trip to San Francisco with du Tuesday
FM EXPO - open today from 10:00 - 19:00
Securing The Enterprise From Mobile Malware
Join the largest retail gathering in the Middle East
Find out who is attending the technical conference at ADIPEC 2018
Morning Roundtable Series on Emerging Trends in Intellectual Property (IP) Rights with The White Houses IP Enforcement Coordinator, September 26, 2018
Schlumberger joins list of global partners supporting UIOGS 2018
10th Amcham Abu Dhabi Annual Roundtable Summit
GPEX 2018 Opens Next Week
Establishing a Long Term Vision for Abu Dhabi Energy Sector
Registration for ADIPEC 2018 and connect with the worlds leading oil & gas organisations
Spend overseas with RAKBANK Mastercard and win $2,500 every week
Waste and Recycling at a glance
UAE Labour Law Workshop
Measuring what matters: Wellness at your workplace - Oct 1 - H Hotel
Schedule at Gastech 2018
3rd Annual GCC HVAC Summit and Awards
Call for speakers, Seamless Retail and E commerce Middle East 2019
Learn about North Americas gas and LNG industry in this 30-minute webinar
Want to network with all of West Africas oil and gas community under one roof
Gas and renewables to feature more prominently in South Africas updated Energy Plan - Hear more at the DLO Africa Power Roundtable London October 2018
Play Fun and Exciting Games throughout the Evening and Win Many Fabulous Prizes
Gas Indonesia Summit & Exhibition From 1-3 August 2018
CUPET International Bid Round
Join KNPC, KOC, Saudi Aramco, at the World Digital Refineries Congress
Join The Most Senior Line-Up Of Gas & LNG Leaders At Gas Indonesia Summit and Exhibition 2018
Security Concerns Around IoT; Cloud Readiness & Compliance Gaps
SNC-Lavalin signs exclusive agreement with Florexx International Investments LLC to deliver Advanced Topping Refinery in the UAE
Get recognised for your achievements at ADIPEC Awards 2018, submit an entry today
East Africa Oil & Gas Summit Opening Next Week
You are invited to MENAs largest stone trade fair (Sep 4-6, 2018) in Dubai