How many owners avoid a going-out-of-business sale in their first 10 years?

Answer: 34.7%

Questions:

• What factors do you think contribute to the high failure rate of businesses in the first 10 years?
• Are there industries you think would be more successful in staying in operation? If so, which ones and why?
• What are some key things you think a business can do to avoid having to shut down?

Here are the ready-to-go slides for this Question of the Day you can use in your classroom. 

Behind the numbers (BLS):

"In March 2023, 34.7 percent of U.S. private-sector business establishments born in March 2013 were still in operation. In other words, one-third of businesses created in March of 2013 survived for a decade."

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.