Only 42 % of new businesses survive more than 5 years | Startup Central
Entrepreneurship is a tough game, no wonder only less than half of all who started barely reaching their 5-year anniversary before switching to something else.

There is a lot of uncertainty going into entrepreneurial territory. No matter if your idea is revolutionary, or just an optimization of an existing concept.

It’s much more than just having a good product. You have to sell it, you have to market it right, and choose the right time to launch it. There is a reason why so many say you need luck to be on your side.

Lots of people start a business every year, which means every year there are new and improved versions of similar products on the market. This essentially creates lots of advertising noise. Not all the launched products are relevant, therefore some relevant ones have the opportunity to stand out.

Which means about 42% of new businesses do not survive the fifth year. This is a heartbreaking statistic, especially as our mission at Startup Central is to help Denmark become a truly entrepreneurial country by motivating and inspiring more potential entrepreneurs.

statistics og how many companies died in Denmark

These numbers can come off as concerning and discourage many from living out their entrepreneurial dreams.

It’s important that you remember, it takes time to generate profits. For a few fortunate it can be within the first year, what’s more it could be you, but it generally takes a few years.

At the same time, we know that very few become entrepreneurs to become wealthy, most get into entrepreneurship because they have a burning passion and an entrepreneurial urge to live their dream.

Many entrepreneurs started a business because:

  • They want to help others
  • They do not feel fulfilled working as an employee
  • They have an entrepreneurial urge that cannot be escaped
  • They have a great passion for something specific

For these entrepreneurs it’s more than just about financial gains, they just need to stay afloat enough to continue doing what matters to them. There is no reason for you to be another one who bites the dust and become part of this statistic.

You can read a bit on how you can save some money as a start-up. You can save a lot of money by smartly outsourcing some tasks and doing some yourself.

You can also seek investments and do crowdfunding. You can read about crowdfunding here. Heyfunding have written four articles on how to get investments. You can read about how to raise funds in different developmental stages – idea/concept stage, development stage, go-to-market stage, and growth stage.