The failure rate of startups is relatively high, especially for first-time entrepreneurs. Roughly 50 percent of all small businesses fail within the first four years, and many of those are started by first-timers who have limited entrepreneurial, business, or management experience.
Even if you start with a fantastic idea, have a dedicated team to make that idea a reality, and plan for most contingencies, external factors beyond your control and a lack of overall experience can cause your business to collapse.
