Perhaps the real number is closer to 8 out of 10. 75% thereabouts fail for those receiving VC backing and the rate is higher for those businesses undercapitalized as lack of adequate funding is the chief cause. No telling the failure rate for individuals who have not access to loans and borrow from family, personal savings etc. but has to be much higher. Canada, Ireland, Sweden, Australia and many countries in Asia and Africa at least are more supportive of new business and technology creation. Speak of business flops, the IHUB listed OTC failure rate has to be above 90%.So many of us have lost plenty in those. Whatever, the rate of failure is high. There are no guarantees when investing. Going into business is a tough proposition but ends up helping us all as tax dollars are added to the treasury... how that money is spent once in government hands is the kicker.
Private sector jobs means more money to pay the salaries of government workers. Without private sector jobs... we all sink eventually as the printing press turned on to make up the shortfalls will doom us all to joblessness if not careful. Now Europe, Japan and others are printing and devaluing just like our Fed/Treasury. Does anyone think this grand ponzi like scheme will not unravel? So who do we choose as our fearless leader? Twiddle Dee or Twiddle Dumb.
I vote for Twiddle Dee. At least he has some business acumen. Twiddle Dumb is just clueless, but plays a good game with the insiders. Her business and common sense is like an ingrown toenail, hard to paint and polish over. Whoever, we need to push for policies that support small business expansion which is the backbone for all we have achieved.
