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Self-employed lead bankruptcies

4 August 2007

A Word of Caution

More than half the small businesses that start up are bankrupt after three years and the self employed are the biggest victims. Bureau of Statistics. Counts of Australian Businesses Entries and Exits.

A total of 59.8% of small businesses with a turnover of $50,000-$200,000 and which were founded in 2003 were bankrupt three years later. The ABS statistics shows the survival rate is linked to age and nuber of employees . The longer a business survives, the greater its chances of continuing survival. However, non employing busisses - such as people who work at home -have an even lower survival rate at 72.9%. So then before launching into a new window cleaning business, realize if you are a start up business your chances of survival are less than 1/3. If you join the AWCF , it means you are interested in learning how to run as a professional business. It's probably a fact that those who dont join will struggle even more.The AWCF is here to improve your survival rate.