Business Start Up: How to Reduce Your Risks & Increase Your Odds of Success & Funding

The Stats

  • 50% of small business fail within five years (1)
  • Only 8% of start-ups achieve funding from bank loans (2)
    (57% small business start-ups fund their business though personal savings.)(2)

The Solution

The solution to both of these problems is to Start small, keep debt down, and have the necessary skills and experience at each step. This will significantly increase your odds of success. Even if you experience setbacks, they are less likely to be catastrophic ones that put you out of business.

How to Reduce Your Risks & Increase Your Odds of Success & Funding
How to Reduce Your Risks & Increase Your Odds of Success & Funding

 

Source: www.SBA.gov
1. https://www.sba.gov/sites/default/files/advocacy/Frequently-Asked-Questions-Small-Business-2018.pdf
2. https://www.sba.gov/sites/default/files/Finance-FAQ-2016_WEB.pdf?utm_medium=email&utm_source=govdelivery