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There are a lot of variables in this. According to Forbes about 80% of small businesses make it through the first year. After that "only about half of small businesses survive passed
the five-year mark, ranging from 45.4% to 51% depending on the year the
business was started. Beyond that, only about one in three small businesses get to the 10-year mark and live to tell the tale".I would not argue that the shutdown has contributed to the businesses closing door just want to shed light that small businesses fail all the time.
Posted by: Mike at June 17, 2020 01:03 AM (OiY/X)
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That they do Mike. Even older, established businesses fail as times change. My grandfather owned an office supply store that was started by HIS grandfather in 1911 and it failed in the mid '90's because the computer age was too much for their antiquated organization. Happens all the time.
Posted by: Timothy Birdnow at June 17, 2020 06:22 AM (jBr0T)
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