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Vent: found out 20% of small businesses fail in year one and it's been eating at me all week
I was reading a report from the U.S. Bureau of Labor Statistics on Tuesday night, just killing time, and it hit me that about 1 in 5 new businesses don't make it past their first year. Then it gets worse. Around half are gone by year five. I have been running my little print shop here in Charlotte for 14 months now, and honestly I thought the hard part was just getting the doors open. Nobody warned me that year two is where you actually feel the squeeze, because the startup excitement is gone but the bills keep coming. I sat there at my kitchen table doing the math on my own numbers, and if I had one slow quarter I would be right in that statistic. My wife asked why I looked sick and I did not even know how to explain it. Does anyone here track a specific metric that tells you early if you are heading for trouble?
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