By Rhonda Abrams
“The other morning I was listening to the radio when I heard a distinguished professor from a distinguished university quoted, saying that 90% of new businesses fail.
Now, when I hear something like that, it?s like hearing fingernails scraping on a blackboard; it gives me the creeps. I know those statistics scare people away from starting their own businesses, but I?ve looked at statistics of business births and deaths closely, and I know of no credible study showing anything close to a 90% failure rate.”
– You hear about these failure rate numbers all over the place. Rhonda Abrams seems to have gotten them right, or as close to right as they will ever be. Opening a business is not for everyone, and these numbers prove that, just like being a rock star or politician is not for everyone. It’s a good idea though to keep your head out of the sand and know what these numbers are to help you determine if you really want to take the plunge. -ed.