In the United States each year, approximately
A)50% of all businesses fail.
B)25% of all businesses fail.
C)10% of all businesses fail.
D)5% of all businesses fail.

Question

Quizplus · Accepted Answer

The U.S. Small Business Administration reports that about 20% of small businesses fail in their first year, while about 50% fail in their fifth year. However, this question does not specify a timeframe, so the most accurate answer is C)10% of all businesses fail annually. This figure is based on a study by the Bureau of Labor Statistics which found that, on average, 10% of businesses in the U.S. close each year due to a variety of reasons such as retirement or acquisition by other businesses.

In the United States Each Year, Approximately