The majority start their ventures with minimal capital—nearly 58% of small businesses launch with less than $25,000.1 In addition, 69% of entrepreneurs use personal savings as their primary funding source, while others rely on loans or alternative funding options.2
How many entrepreneurs become successful? While about 81% of startups survive their first year, the rate of failure rapidly increases afterward.3 This underscores the importance of preparation and informed decision-making when entering the business world. Common challenges for new businesses include securing funding, maintaining profitability, and coping with economic shifts.
Starting a business is a multi-stage process that involves key steps such as choosing a legal structure, registering with state and federal agencies, and securing the necessary permits.
FastFilings provides convenient online services for startups seeking assistance in complying with their business filing obligations. Whether you need a seller’s permit or a certificate of good standing, FastFilings simplifies the process with our streamlined ordering platform, so you can focus on building your business with confidence.
Check out the infographic below for some additional entrepreneur stats compiled by the FastFilings team.
