Historically, that failure rate was eclipsed by the sheer number of new business starts each year. More businesses opened than closed — until 2008. That year, for the first time in more than 30 years, small-to-medium size business (SMB) closings outnumbered openings — and by a big margin. That year, the country was left with a deficit of roughly 100,000 small businesses. And that trend line really hasn’t reversed course all that much since then.
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