Small Business In the U.S. And Abroad
Starting a small business in the United States doesn’t cost the same as starting one in China, or anywhere else in the world for that matter. Inflation and currency rates make start up costs quite different around the globe, and it’s interesting to see how far your money would go off shores.
The US and and France have some of the highest failure rates for small businesses. This could be due to a number of things, like lack of support services for new entrepreneurs, or lack of skills in the area of business. The number of days it takes to start a business differs by country, with the US at the top of the list of countries that take the longest.
The longer a business stays afloat, the better chance they have of remaining in business. In the US, sixty nine percent of businesses last two years, but only 31 percent pass the seven year mark. In New Zealand, 42 percent of small businesses fail within two years, and 33 percent in France close up shop within a year.