That a majority of businesses fail over a given duration of time. It’s probably true on a long-enough timescale, but the idea that the majority of businesses fail within one year or ten just seems completely dubious. How is a business defined? How is failure defined?
Ignoring the available data indicating that it is the case, I'm curious about why this seems dubious to you in the first place?
Starting and maintaining a functioning business is difficult; the default outcome is failure (the end of the business as an operating entity) and you have to work to prevent that from happening every day that you want to remain open.
And I've never seen a claim that the majority of businesses fail in a year. Most anecdotes say a majority fail within 5 years, which seems to be approximately correct based on US data.
That a majority of businesses fail over a given duration of time. It’s probably true on a long-enough timescale, but the idea that the majority of businesses fail within one year or ten just seems completely dubious. How is a business defined? How is failure defined?
You don’t need to wonder, that information is readily verifiable. Most businesses fail. https://www.bls.gov/bdm/bdmage.htm
Ignoring the available data indicating that it is the case, I'm curious about why this seems dubious to you in the first place?
Starting and maintaining a functioning business is difficult; the default outcome is failure (the end of the business as an operating entity) and you have to work to prevent that from happening every day that you want to remain open.
And I've never seen a claim that the majority of businesses fail in a year. Most anecdotes say a majority fail within 5 years, which seems to be approximately correct based on US data.