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TIL the Small Business Administration says only about half of new businesses make it to year five
I was digging through SBA data for a loan application and found out roughly 20% of small businesses fail in their first year and only about half survive to year five, which hit me hard since I'm 14 months into my own shop on 6th Street and had no clue the odds were that rough, so now I'm wondering if any of you locals track your numbers monthly or just sort of wing it like I have been.
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