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Statistics about Startups by Business Industry in Europe

Statistics about Startups by Business Industry in Europe
Panagiotis Koutoudis
by Panagiotis Koutoudis
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There are many surprising and not so surprising statistics about start-up businesses in Europe. Before you dive into starting a business or launch anything new in an existing business, you may want to take a look at some of these.

  • 90% of all new products will fail. This could be for several reasons, but in the retail industry the majority fail because of a lack of proper research beforehand. Always make sure you know if the product will be well received and if there is a market for it.
  • In all industries, 20% of businesses that fail could still be operating two and half years later if business owners had asked for proper advice from the outset. When a business is in its initial stages, good advice is priceless.
  • 18% of first time entrepreneurs will succeed in business. Although at first glance this may seem like a good thing, it also means that 82% will fail. This is usually down to a lack of good preparation.
  • Ecommerce businesses are failing in Europe because they have not learned to adapt to online trends. In 2011, 11% of UK shoppers used their mobile phones to purchase products and that number has been steadily increasing since. Ecommerce businesses without mobile friendly websites risk failure in the future.
  • Businesses should not rely on marketing managers to maintain good budgets. 28% of all marketing managers base marketing budgets on gut alone. Gut will not get you very far when it comes to finances.
  • Sadly, 50% of all small businesses in Europe will fail within the first three years but entrepreneurs then have a 20% success rate with their next venture.

As you can see, maintaining a business is a difficult job but with knowledge, research and determination, it can be done.

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