"Businesses that survive beyond seven years across the world fall into two categories: those that are engaged in attractive, sustainable business and those that survive only because they are externally funded, non compliant, or because their owners have nothing else to do. The lives of this last category of businesses are, unsuprisingly, intricately linked to the lives of thier owners".
One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man.
Consider the following facts:
Worldwide, there are about 300 million persons trying to start some 150 million businesses annually.
About a third of these are launched, bringing 50 million new firm births each year; or about 137,000 per day. Very nearly the same number of active firms, approximately 120,000, fold up each day across the world.
- In the United Kingdom, for example, only 68% of registered businesses survive beyond three years; 53% beyond five years, and only 32% survive beyond ten years.
- In Canada, about 145,000 businesses start up each year, and about 137,000 businesses declare bankruptcy over the same period, as reported by Statistics Canada.
- In Kenya, according to the Kenya National Bureau of Statistics, three out of every five businesses fail within their first two years of operation.
- 53% of small and medium-sized enterprises (SME) fail within the first three years in New Zealand, according to data from Statistics New Zealand.
- In Brazil, out of the 1.6 million new businesses that open every two years, 652,186 close down within three years, with 51% closing before they are two years old.
These realities persits despite the existence of a sound, tested and growing body of knowledge on which viability and sustainability of enterprise can be pre-źdetermined, optimized, and otherwise variously managed.