The claim that 90% of startups fail simply isn’t true. A thorough analysis of startups has revealed that the number is closer to 6 in 10 fail, with the worst year having a 78% mortality rate (the dotcom bubble). Those are far better odds than a 10% chance at success.
And technology is rapidly reducing the overall cost of starting up. One hundred years ago, the cost to start a business was immense – goods were difficult to transport over long distances. You were limited to a market that immediately surrounded you, and everything had to be done with the help of manual labor.
Author: Diana Hope