Asked by Katelyn Chapman on Jun 26, 2024
Verified
Statistics on small business failure rates indicate that ___ of new businesses fail in their first five years of operation.
A) less than 20 percent
B) 20 to 40 percent
C) about half
D) 60 to 80 percent
E) more than 80 percent
Small Business Failure Rates
The percentage of small businesses that do not succeed or cease operations within a certain period of time.
First Five Years
A period often referencing the early stage of an entity's existence, crucial for development and long-term success.
Operation
A series of actions or steps taken to achieve a particular end.
- Ascertain principal causes behind the failures of new enterprises and approaches to alleviate such issues.
Verified Answer
JP
Jenshi PatelJul 02, 2024
Final Answer :
D
Explanation :
According to various studies and reports, it is estimated that 60 to 80 percent of new businesses fail within their first five years of operation.
Learning Objectives
- Ascertain principal causes behind the failures of new enterprises and approaches to alleviate such issues.