Approximately 85% of startups survive their first year in business and of those, less than 70% survive their second year in business. By the 5th year, that survival rate is down around the 50% mark. But there are several things you can do to arm yourself for success.
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You come up with great ideas, so it’s important to protect them. Trademarking your business name, product name, tagline or logo is important as they are some of your most valuable business assets. The process takes around 7 months, so the sooner you start, the closer you are to having your own registered intellectual property, and a more valuable business.