Small Business Openings & Closings:
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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.
http://www.score.org/small_biz_stats.html
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