Startup Business Failure Rate By Industry | Statistic Brain

Source: Startup Business Failure Rate By Industry | Statistic Brain

 

 

Major Cause Percentage of Failures Specific Pitfalls
1 Incompetence
46 %
Emotional Pricing
Living too high for the business
Nonpayment of taxes
No knowledge of pricing
Lack of planning
No knowledge of financing
No experience in record-keeping
2 Unbalanced Experience or Lack of Managerial Experience
30 %
Poor credit granting practices
Expansion too rapid
Inadequate borrowing practices
3 Lack of Experiences in line of goods or services
11 %
Carry inadequate inventory
No knowledge of suppliers
Wasted advertising budget
5 Neglect, fraud, disaster
1 %

 

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