Self Employed Success

Kauffman Firm Survey (KFS) follows nearly 5,000 businesses founded in 2004 and tracks them over their early years of operation. Here are some interesting results:

• More than a third of businesses (37 percent) had no revenue in their first year of operation while about 17 percent of businesses had profits in excess of $100,000.

• Just under 9 percent of firms closed in one year and the survival rates vary by owner demographics.

• Nearly 60 percent of the businesses had no employees in their first year while very few businesses (less than 4 percent) had more than 10 employees.

To learn more about the results of this survey, visit the Kauffman site.