Business Spotlight 08.2019

(Nancy Kaufman) #1
CAREERS & MANAGEMENT 6/2019 Business Spotlight 69

Foto: Rawpixel/iStock.com


P


op quiz: How many new businesses fail
within their first five years?
A. 20%
B. 40%
C. 50%

While the statistics on failure rates of
new businesses vary slightly, the U.S.
Small Business Administration (SBA), a
United States government agency sup-
porting entrepreneurs and small busi-
nesses, reports that around 30 percent
of new businesses fail during their first two years, 50
percent during their first five years, and 66 percent
during their first ten years. So, if you answered C, you
can give yourself a gold star.
These are hardly encouraging statistics if you are
considering starting your own business. But take
heart: Understanding the reasons why new business-
es fail may help you avoid the same fate.
Most businesses fall into one of three categories:
brick-and-mortar businesses, online businesses, and
service providers. While it depends somewhat on the
kind of business you plan to start, the main reasons
why new business fail are fairly consistent.


  1. Poor planning
    New business owners often underestimate the val-
    ue of a solid business plan. Writing a business plan
    gives you the chance to think through what you hope
    to achieve. You set out a roadmap for success, put in
    place concrete and realistic milestones, and outline
    the steps necessary to reach those milestones.
    Whether it’s long or “lean,” a well-written business
    plan includes the same information: an introduction


achieve sth.
[E(tSi:v]
, etw. erreichen
brick-and-mortar business
[)brIk En (mO:rt&r
)bIznEs*]
, traditionelles (nicht
virtuelles) Unternehmen
consistent
[kEn(sIstEnt]
, übereinstimmend
entrepreneur
[)A:ntrEprE(n§:*]
, Unternehmer(in)
lean [li:n]
, schlank;
hier: kurz gefasst
milestone
[(maI&lstoUn*]
, Zwischenziel
take heart
[)teIk hA:rt*]
, Mut fassen

Eine unzureichende Kapitalausstattung, ein fehlendes
Konzept, ein unfähiger Firmengründer – es gibt viele Gründe,
warum neue Unternehmen schon nach kurzer Zeit scheitern.
TENLEY VAN DEN BERG hat sich mit dem Thema befasst.
MEDIUM US

* This symbol marks
standard US pronunciation
throughout this article.
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