Wisconsin’s 10-year small business survival rate No. 2 in the nation
According to Wisconsin Public Radio, Wisconsin had the second best 10-year survival rate for small businesses nationwide, following only Iowa.
In the 12-month period ending in March 2012, 8,199 private sector businesses opened; a decade later, 43% of these, or 3,523, were still in operation. On average, these surviving businesses increased their number of employees from 4.5 to 10.7.
Small businesses survival rates tend to decrease over time; 42.2% of businesses that opened in a yearlong period ending in March 1994 were still open in 2004, but by 2022, only 19.7% were still operating.
Additionally, 80% of small businesses remain operating after their first year, but that number decreases to 50% by year five.