Why Half of Small Businesses Fail in Five Years and How to Beat the Odds

Entrepreneurs struggle with sales, capital, and expectations, experts say

By: Samuel Navarro

Outlets: Queens University News Service

Published: March 18, 2025

Words: 1,070

Last Updated: 2 months, 2 weeks ago

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Updated March 31, 2025

In North Carolina, nearly 80% of newly opened businesses shut down within their first year – a staggering reality for entrepreneurs. These small businesses are the backbone of the state’s economy, employing almost half of the workforce. Over the past 25 years, they have also played a major role in job creation, accounting for two-thirds of all new jobs.

Many of the obstacles business owners face can be overcome with …

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