This Chart Proves How Hard it is to Run a Business in America 🇺🇸

What We’re Showing:

This chart tracks the survival rate of businesses founded in 2013 by industry. Data is sourced from the Bureau of Labor Statistics, published 2024.

Key Takeaways

Agriculture and Forestry businesses born in 2013 have been the most resilient over the last decade. More than half were still in operation by 2023.

In contrast, only one-fourth of Mining, Oil & Gas firms survived in the same time period.

The First Year is the Toughest

Across all industries the first year proved the most brutal, with a 20 percentage point decline in businesses still operating.

As time passed, the declines continued but with at a slower rate.

Finally, for all private businesses incorporated in 2013, only one-third were still functioning in 2023.