Statistics all over the world show just how difficult it is to start up and maintain a small to medium-sized business. In fact, 50% of small businesses fail in the first year, with that number jumping to 95% in the next five years.
That being said, however, small to medium-sized businesses makeup almost 90% of the total businesses worldwide and are a great source of employment and innovative services.
55% of people have said that they want to start their own business simply due to the fact that they want to be their own boss, and globally, there has been a movement of employees to start their own businesses in their spare time.
Source: https://www.entrepreneurshipsecret.com/business-marketing-strategy/