ord sunshine pumpers

life in rural nebraska

78

with 3 comments

With Friday’s ribbon cutting for Spa Glo, Ord and Valley County will be celebrating a striking acheivement – 100 new businesses in nine years.

This achievement had Lu, Janie and I talking about what our business success rate has been and how that compared to national averages.  Lu and Janie tackled the challenge with tremendous results:  78.  After attrition: 78 business wins 22 losses in 9 years.

The national average?  Rates hover around 50% success for a 5 year period.  USA Today, Businessweek and Smallbiztrends have reports here, here and here respectively. USAToday details tens years of survival numbers:

So what is your chance of success? I think Birch’s statistics are probably as accurate as any. His survival rates:

  • First year: 85%
  • Second: 70%
  • Third: 62%
  • Fourth: 55%
  • Fifth: 50%
  • Sixth: 47%
  • Seventh: 44%
  • Eighth: 41%
  • Ninth: 38%
  • Tenth: 35%

“Once you’ve hit five years, your odds of survival go way up,” Birch said. “Only two to three percent of businesses older than five shut down each year

78/100 operational businesses over a 9 year period? Not bad.  Now include that with 17 expansions and 21 business transfers.

You can have a look at the full list here.  If we missed you on the list, please don’t hesitate to comment and we’ll revise the list and the blog post.  As a commenter out there said, “you’ll need shades because the future is so bright.”

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Written by Caleb

November 12, 2009 at 4:07 pm

3 Responses

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  1. […] and the growth of an entrepreneurial culture in Valley County, much of it to do with our growth in new businesses over the past nine […]

    Risk « ord sunshine pumpers

    November 13, 2009 at 6:25 pm

  2. some of your businesses are on there multiple times, fyi….and some no longer exist…

    Tammie F.

    November 19, 2009 at 3:20 am

  3. Tammy – we try to keep the list as up-to-date as possible. Please email me the ones you’ve noticed and we’ll get a corrected list up: calebpollard@frontiernet.net

    Many thanks.

    Caleb

    November 19, 2009 at 3:42 am


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