risky business

This Chart Shows Why Starting A Business In The US Is Such A Gamble

This Chart Shows Why Starting A Business In The US Is Such A Gamble
Some industries have considerably worse survival rates than others.
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Starting a business is no small feat, and success is never guaranteed. In fact, only a third of all businesses founded in 2013 were still running a decade later โ€” and some industries have proven much harder to survive in than others.

Using Bureau of Labor Statistics data, Visual Capitalist tracked the survival rates of businesses created in 2013, by industry. The figures were published in 2024.

As the chart shows, the first year was tough across all industries, with the number of businesses still in operation dropping by 20 percentage points overall.

Businesses in the mining, oil and gas industry have struggled the most; only a quarter of them were still functioning a decade after being founded.

Conversely, agriculture and forestry firms have fared the best of all the businesses born in 2013, with more than half having survived their first 10 years.

Click image to enlarge

US businesses survival rate

Via Voronoi.

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