Ninety-nine percent of businesses that make it past the first year still fail within five years because they can't make the transition from the entrepreneurial stage.

Question

Quizplus · Accepted Answer

While it is true that many businesses fail within their first year, the statement that 99% of businesses that make it past the first year still fail within five years is false. The U.S. Bureau of Labor Statistics reports that about 80% of businesses survive their first year and about 50% survive their fifth year. Additionally, there are many reasons for business failure beyond simply not being able to make the transition from the entrepreneurial stage.

Ninety-Nine Percent of Businesses That Make It Past the First