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The risk of starting a new business |
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The risk of starting a new business
According to the daily newspaper “Kathimerini”, data from GSEVEE indicate that 20% of small and medium business startups fail within their second year of operation and the mortality rate rises to 50% as they reach between five and seven years of operation.
The above percentages are better than expected as international experience shows mortality rates of 50% for the third year of operation and 70% for the first 5.
Irrespective of the exact percentage the conclusion for potential entrepreneurs is clear: Do NOT start a business from scratch, BUY a successful, profitable, existing business.
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