Running a business is not for the weak of heart. We know that much. It takes so much time, so much effort, and so much money. Building a successful business is even harder. An infographic from Staff.com brings us the numbers on startup failures and successes.
Let’s take a look at their findings:
- Businesses are less likely to survive today: In 1995, 50% of businesses survived five years. In 2005, 47% of businesses survived five years.
- Businesses most likely to fail include independent restaurants, retail stores, direct sales, and consulting and business services. The rate of failure is between 50 – 60% in the first five years.
But there’s good news. If you’re looking to start a business in one of the following industries, you’ve got a good chance for success:
- e-Commerce: There’s a 52% projected revenue increase between 2012 and 2017.
- Internet publishing: 110% projected growth between 2012 and 2017.
- Mobile games: 173% projected revenue increase between 2012 and 2017.
- Residential construction: 63% projected revenue increase between 2012 and 2017.
There are three more healthy, growing industries in the infographic. Check it out:
Are you starting a business? Tell us about it in the comments below!