Thought of the day by Stoic philosopher Epictetus: “It is not what happens to you, but how you react to it, that matters”
· mal james
AI Briefing
- • 22.1% of new private-sector businesses fail within their first year.
- • 48.6% of new businesses fail by the five-year mark.
- • 65.3% of new businesses are gone by the decade.
Context
New private-sector businesses often fail, with roughly 22.1 percent closing within their first year. By the five-year mark, this number increases to about 48.6 percent. After a decade, approximately 65.3 percent of new businesses are no longer in operation.
The high failure rate of new businesses matters because it affects the people who start them. As Stoic philosopher Epictetus said, the outcome is not as important as how one reacts to it.
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