There are some alarming — make that terrifying — small business bankruptcy statistics floating around the web that claim that the vast majority of small businesses don’t make it to their first birthday party. Thankfully, this isn’t the case. However, it’s not as if the truth is inspiring, either: just over 50 percent of small businesses fail within the first four years.
Naturally, a small amount of this failure is the result of tragic events like severe illness or death. But a far more sizable proportion of small business bankruptcy cases are triggered by the following: