Startups & Small Business | Financial Literacy for Class 6 PDF Download

Business owners use their own savings, loans, stocks and other sources for startup capital. It’s vital to research your industry and make a plan that describes exactly how you can maintain profitability. Some people rush into growing a business without properly vetting out a strategy for long-term success. Pursuing an exciting business idea and not considering all the costs involved can make your dreams short-lived.

Startup Facts

• There are more than 28 million small businesses in the United States.
• One third of new businesses close within 2 years, and half close within 5 years.
• The Small Business Administration reports that around 10 to 12 percent of small businesses with employees close every year.

After starting a business, the work has only begun. Staying competitive in your industry requires keeping an eye on trends and adapting to changing consumer demands. From evolving your marketing strategy to expanding your client reach the work of maintaining a business requires constant dedication.

Startups and Closures