Studies show that after the first year small business’s, 91% of them survive but after 5 years just four in 10 companies will remain. Which is a shocking stat in itself, information shows that businesses focusing on education and health fare best over a five-year period. Health and education are the only two sectors which more than half of businesses launched are still trading 5 years later.
Circle research have made this educational infographic to educate us just how hard it could potentially be to start your own business ini the UK.
Takeaway
When you are a small company, something you should definitely do is to check with your customers/clients, because according to a recent study you are 30% less likely to experience business failures. However, some entrepreneurs have recently said that early failure in their career has spurred them on to do greater things later.
