Starting a business is exciting but risky. While 81% of businesses survive their first year, fewer make it to three.
A study by LLC Attorney shows Agriculture, Forestry, Fishing, and Hunting leads with a 72.3% survival rate, followed by Arts, Entertainment, and Recreation (69.18%) and Accommodation and Food Services (68.43%).
The Information industry struggles the most, with only 53.96% surviving for three years. Common reasons for failure include poor funding, weak marketing, lack of planning, and failure to innovate.
Understanding industry survival rates helps entrepreneurs prepare, make smarter decisions, and improve their chances of long-term success.
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