inluminent

In Lessons Learned the Hardest Way, by Going Belly-Up, Laura Randall profiles the experiences of 4 small businesses that have closed recently and offers this snippet of information:

New small businesses start every day, and fail just as frequently. About 34 percent of businesses with 500 or fewer employees close within two years of opening, and 50 percent fold after four years, according to the Small Business Administration.

Yep, my first personal business venture closed after only 6 months of start-up time… luckily, none of the founders lost too much money on the deal. I’d agree with the idea that it’s tough to start your own business, and it’s even tougher to make money at it, if you’re not truly focused on every aspect of it.