Starting up a new business needs a lot of experience, expertise and mostly, finance. But keeping it afloat comes as the biggest challenge which is why; it is found that9 out of 10 businesses that are started fail within the first year itself.
It has also been found that in industries with small firms doing the most innovation, survival rates have been found to be higher and one of the main reasons of failure has been high capital intensity.
Of every 10 industries that are launched in a year, seven have been found to survive the first year while in five years time only two of them would survive.
