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.
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.