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.