Being an entrepreneur is more challenging and demanding than what most people think. It is hard to retain a business on the right track and prevent it from breaking down or going bankrupt. Why do most entrepreneurs at their early age fail? The reasons run deep, but a few things are needed to be considered before starting a business.
The startup ratio in the world in recent years has been around 90 percent. Due to research issues, 21 percent of startups failed to succeed. Close to 30 percent did not make it to the second year. There was a deteriorating decrease in the fifth year with 50 percent failures; and only 30 percent of startups survived a decade.