According to data from the U.S. Bureau of Labor and Statistics, only 25% of new businesses stick around for 15+ years. This stat has been true for 30 years and can teach current and aspiring entrepreneurs one very important lesson: founding conditions, rather than market changes, play a crucial role in long-term success.
It makes sense when you think about it. If a business has a flexible structure and embraces creativity and change right off the bat, it’s more likely to succeed. No matter its industry, it will thrive when the market is going its way and survive when it’s not.
