1 in 4 entrepreneurs fail at least once before succeeding. It takes entrepreneurs an average of three years for their business to begin supporting them financially.
These somewhat blunt statistics involving entrepreneurialism were the findings of a study by Skynova, a small business resource for creating professional invoices. Skynova surveyed 250 entrepreneurs to find out how much money it takes to launch a business, as well as the main challenges they face when getting a new venture up and running.
With the average time taken for a business to become financially profitable being three years, it’s not that surprising that 36% of entrepreneurs say they had considered quitting before their business took off.
