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That deleted thread about 72% of small biz failures being preventable still bugs me
I found this screenshot from a deleted LinkedIn post last week that claimed 72% of small business failures are preventable with better cash flow planning. The stat came from a Jason at some analytics firm, but when I dug into his source, it was just a survey of 200 businesses in Portland. I don't think that number applies to everyone, especially not to hardware stores in rural areas dealing with supply chain issues. Has anyone else tracked down a viral stat and found the source was way weaker than people claimed?
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grace50826d agoMost Upvoted
Was that stat from the same Portland survey that got passed around as gospel? I read a piece by a data journalist who tracked how a 2019 survey of 300 cafes turned into a widely shared claim about restaurant failure rates. @patricia_schmidt14 is right that most small biz fail for tons of reasons, and a tiny local sample just doesn't prove much about the whole country.
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patricia_schmidt1428d ago
Call the stat pure garbage cause most small biz fail for way more reasons than bad cash flow.
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