Have you been planning on starting your own business? Are you already in the early stages and want to increase your chance of success? Read on to learn more.
Think about the following stats. As cited by SCORE, “Counselors to America’s Small Business,” in 2006:
- There were 671,800 new businesses, and 544,800*business closures.
- Two-thirds of new employer firms survive at least two years, and about 44% survive at least four.
- Findings do not differ greatly across industry sectors.
*Not all closures were due to bankruptcies.
Sources: U.S. Small Business Administration, June 2006.
Survival and Longevity in the Business Employment Dynamics Database, Monthly Labor Review, May 2005. Redefining Business Success: Distinguishing Between Closure and Failure, Small Business Economics, August 2003.
There are other statistics available that paint an even more negative picture about the survival of the American small business. Collect as many resources, mentors, and plans as you can to increase your chance of success.
One place to start may be by signing up for the UCF Technology Incubator’s Excellence in Entrepreneurship Certificate Course. The course will be held on Tuesdays and Thursdays, beginning on October 7th, and will conclude on Wednesday, October 29th. Students will cover topics such as developing successful business ideas and marketing strategies.
Enrollment is limited to the first twenty students, and companies that will have more than one student will get a discount for each additional person.
Classes will be held at the UCF Incubator-Seminole County/Winter Springs location at 1511 E. State Road 434, Suite 2001, Winter Sprince, 32708.
