Less than 7 out of 10…
these are the odds of survival for more
than 3 years - never mind achieving
success - for a new business start-up
in the UK today. According to survival rate statistics of VAT registered businesses released earlier this year by the Small Business Service, the survival rate for UK businesses over a 3 year period is 68.9%.That means that almost one 3rd of the UK’s entrepreneurs that plough their business loans and nest eggs into new businesses will lose out to poor marketing, bad organisation, wrongly identified markets, inaccurate financial forecasts, management mistakes, shifting economic conditions… or any number of other pitfalls littering the road to building a successful business. More.
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