The convergence of two technologies, the Internet and social media, has
empowered consumers as never before; add mobile to that equation and
that power has become instantaneous – available anytime and anywhere.
According to the latest data gathered by the SBA, about 66% of small businesses will survive during
the first two years of operation. Despite the fact that this is more promising than the 80% failure rate
claimed by other sources, the figures are still high enough to cause
apprehension. Here, we explore why so many small businesses fail during the first few years.