ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
GLOBALIZATION AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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more than 75 percent
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more than 60 percent but less than 75 percent
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more than 40 percent but less than 60 percent
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less than 40 percent
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Detailed explanation-1: -What Percentage of the Population are Entrepreneurs? Entrepreneurs make up 16% of the adult workforce in the United States.
Detailed explanation-2: -Only 20 percent fail within the first year but 50 percent fail within the first five years. In other words, an additional 30 percent of businesses will fail between years 2 and 5, or about 7.5 percent of the initial amount per year.
Detailed explanation-3: -Many people are under the impression that small businesses have it quite easy due to the wealth of entrepreneurship in the United States. The reality, however, is that 18% of small businesses fail within their first year, while 50% fail after five years and approximately 65% by their tenth year in business.
Detailed explanation-4: -1. Fifty percent of U.S. businesses are home-based businesses. Roughly 50% of all small businesses in the United States are considered home-based. [1] That number increases to 60.1% when looking specifically at nonemployer firms, or companies that don’t have any employees.