Thursday, January 04, 2007

Small Business: Stronger than you think!

Over on our sister blog, Selling to Small Business, I've just posted the results from a Statistics Canada study that reports that Canadian small businesses are actually healthier and last longer quite a bit longer than many people believed.

It's a 2005 study, but this is the first time I've seen it.

The main point: "Of all firms that were created during the 1990s, roughly one-quarter ceased to operate within the first two years. "
"Just over one-third of these firms survived five years or more, and only one-fifth were still in operation after 10 years.”

Although StatsCan's tone is pretty sombre, this result is much better than the statistic most people quote: the fallacy that 80% of all small businesses fail within five years. In fact, 20% last ten years!

For more, click here to see the post at Selling to Small Business.
Or click here to go straight to the StatsCan report.

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