Navigating a Recession

I have spent over 20 years in the trenches specializing in buying, selling, fixing and growing businesses. When writing my first book in 2013, Sell Your Business for More Than Its Worth, I learned that 85-95% of all startups from 1-5 years are at great risk for going out of business, which is pretty common knowledge. However, when I wrote Exit Rich in 2019 and did the same research, I was flabbergasted at how drastically the business landscape had changed. Now, only 30% of startups will go out of business in the first 5 years. However, out of 27.6 million businesses, 70% will go out of business after being in business 10 years or longer.

You hear about the big box public companies, such as Kmart, JCPenney, Steinmart, etc. But what you don’t hear about are the small private businesses that are dropping like