A new study just released by the Kauffman Foundation finds that there are 500,000 new business start-ups in the US every month. If accurate, that means we are now seeing start-up rates of 6 million a year!
With that kind of entrepreneurial spirit and passion, you would think that we would be seeing a significant bump in the enconomy?
BOTTOMLINE: "The biggest challenge of an individual small business is "survival." 80% of all new business start-ups are out of business within five years. And if that doesn't get your attention, 80% of the 20% that survive the first five years don't survive the second five." (Six Disciplines for Excellence, page 41.)
(Thanks to Jeff over at the Entrepreneurial Mind for the tip)