Who is Your Coach?
You can be confident knowing that you are in good hands. As a certified credit analyst and financial strategist. With certification as a NACCC, EA, CMA Ms. Williams will help you meet your financial goals.
She has over 12 sources of income with 2M in business credit and net company sales over 1M. She is a product of her products.
She has one goal in mine and that’s to assist you in meeting yours. Her mission is to be apart of your vision.
WHAT TYPES OF BUSINESSES HAVE THE HIGHEST FAILURE RATE?
Are we looking at failure rates based on the industry? Do we get an accurate number if we lump all businesses under one umbrella? Different industries have different failure rates. For example, 75 percent of construction companies survive their first year in business, 65 percent survive the second year, but only about 35 percent make it through their fifth year in business.
Nearly 20 percent of scientific, professional, and technical service businesses fail in their first year. Finance and insurance businesses have a high first-year failure rate, too, at about 16 percent.
According to the Small Business Administration – The SBA – close to 66% of small businesses will survive their first two years. What that means is that only about one-third of total companies will fail during the first two years. The SBA also tells you that about 50% of businesses fail during the first year in business.This is a much better number than the 9 out of 10 failures that some claim.
88% of businesses never reach the 6-figure mark. 50% of businesses flop before their 5th year in business and 66% flop within 10 years. 76% of them never hire a team to assist which massive burn out is concluded, being a 1 man show in every capacity of the business. Most business owners jump in, never being taught what it actually takes to be a successful entrepreneur, the skills required to own and operate a business, or how to grow their businesses. Don’t become a statistic. You can rise above these numbers and set yourself up for success by having a successful and experienced coach in your corner.
Ready to take your business to the next level? Hire Exclusive Solutions CEO & Founder Tiffaney Williams to be your personal coach.
You can avoid these statistics and set yourself up for success by having a successful coach in your corner. Ready to take your business to the next level? Hire the best!
"Procrastination is the key to being unsuccessful."
Women Owned Business in the United States
More than 11.6 million firms are owned by women, employing nearly 9 million people, and generating $1.7 trillion in sales as of 2017.
Women-owned firms (51% or more) account for 39% of all privately held firms and contribute 8% of employment and 4.2% of revenues.
Businesses Owned by Women of Color
5.4 million firms are majority-owned by women of color in the U.S.
These firms employ 2.1 million people and generate $361 billion in revenues annually.
Million Dollar Businesses
One in five firms with revenue of $1 million or more is woman-owned.
4.2% of all women-owned firms have revenues of 1 million or more.
WHY DO MOST SMALL BUSINESSES FAIL?
About 20 percent of small businesses fail in the first year. By the fifth year in business, about 50 percent fail. Looking at the failure rate of companies, starting a business can be scary.
First of all, let’s consider a few questions about failing businesses:
Are new businesses more likely to fail than more established companies?
What time frame are we talking about? Are we referring to business failing within the first year or the first two years, or 5 or 10 years? The failure rate among companies is very different, depending on how long they have been in business. According to the Bureau of Labor Statistics, about 20 percent of small businesses fail in their first year, about 50 percent in their fifth year. About 80 percent of companies with employees survive their first year, and about 70 percent will survive in their second year in business. Data shows that about 50 percent of businesses with employees survive their fifth year in business.
WHAT QUALIFIES AS A FAILED BUSINESS?
Does failure mean the business no longer exists or that it exists in a different form? For example, how do we count a company that was merged with another business? Is that business a failed business? What if the business owner retires and closes the shop down. Does that count as a failed business?
ARE BUSINESSES REALLY FAILING IN SUCH HIGH NUMBERS?
According to the U.S. Bureau of Labor Statistics, about 50% of all new businesses survive five years or more, and about one-third survive 10-years or more.This is an interesting statistic because it shows you that a more mature business has a better chance of surviving.