Although we haven’t been fortunate enough to see more than a few scattered days of sunlight here in Boston, I’m told it’s technically spring.
In addition to rain, April also brought us some stunning new creative work from agencies around the word. Our monthly ad round-up features a German-produced animated short, a delightful Danish beer ad, and a clever insurance spot from Japan starring a rugby team from New Zealand.
In the first few years of business, small companies come up against many different problems. And – you’ve probably guessed it – some are harder than others to overcome. According to Shopify, the average annual business rate of business failure from 2019 to 2023 (for companies started only half a decade ago) is a scarily small 12.1%. This means that between 2018 and now, starting a small business hasn’t been the easiest task; if anything, it tells us that maintaining a business is a hell of a lot harder than starting one.
In the first few years of business, small companies come up against a lot of different challenges. Some are harder than others to overcome — and according to the U.S. Bureau of Labor Statistics, about 20% of small businesses fail by the end of their first year. By the end of their fifth year, 50% go under; and by the tenth year, that number rises to 80%.
In the first few years of business, small companies come up against a lot of different challenges. Some are harder than others to overcome — and according to the U.S. Bureau of Labor Statistics, about 20% of small businesses fail by the end of their first year. By the end of their fifth year, 50% go under; and by the tenth year, that number rises to 80%.