Thinking about failure when starting up a new business is said to be bad omen, but it is also common sense to consider why people fail in their entrepreneurship venture in order to be prepared for what is ahead, as well as, to avoid similar fate.
Statistics published by the Small Business administration (SBA) shows that seven out of ten of new businesses survive up to two years and up to 51% survive up to five years, a huge leap from previous research results which suggest that up to 50% of new businesses fail in their first 12 months and up to 95% fail within five years.
