What are your chances of business success?

According to LendingTree, 18.5% of businesses fail in the first year, 30.6% in the second year, and nearly half (49.7%) don’t make it past 5 years. The odds vary somewhat with location and industry. The reasons for failure: cash flow problems, lack of demand for businesses’ products or services, and not researching the competition. LendingTree suggests that keeping expenses low can contribute to success. #IdeaoftheDay