- Banned
- #101
Where is the link to back up these phony numbers?
The 70% number comes from Romney advisors in response to Newts attack. They have been repeated multiple times in many interviews.
The 50% figure comes from my time in college. It's the number that was taught to us during business mgmt and ethics.
I have no reason to doubt either stat. If you choose to that's your choice.
The reality is that it is incredibly difficult to provide any solid, accurate information on how many new businesses fail... because new businesses are not required to provide data in order to establish the factual picture. Having said that, the National Federation of Business has, for over a decade, been trying to track it. From their stats, it appears that the failure rate is around 80%.
It may very well be that high now. It's been about 25 years since I was in college. If memory serves me correct the stats we were given were based off of bank loan defaults and declared bankruptcies. Part of our curriculum was to submit business proposals to the banks we got our student loans from or those we delt with for approval or denial. We also heavily studied unions and union representation.
One of the few classes I enjoyed.