Around two-thirds of all companies founded in 2015 still existed five years later, reports Statistics Netherlands. This has increased the companies’ chances of survival, according to the statistics office. Of the companies started in 2010, 56% still existed five years later.
New employers also had a better chance of still being an employer five years later. For employers who started in 2010, this was 44%. Of the new employers who started in 2015, 49% were still employers five years later. New employers are companies hiring for the first time that year. This doesn’t always have to be in the foundation year.
Among the companies founded in 2015, those in the construction sector had the greatest chance of survival. 71 percent of those companies were still in business five years later. In the hospitality (59%), transportation and warehousing (56%) and retail (51%) sectors, the chance of a business reaching five years of life was significantly lower.
Stores have an increasing chance of surviving at least five years. This possibility is also steadily increasing for online shops, although less than half of online shops are still in their prime.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
