TechJury.com has released a list of catchy stats that showcases “where” the world of startups are booming, where they’re failing, and where the money is.
The list is extensive, but here are six conversation-sparking startup stats for you to share on your next coffee break:
1. According to startup statistics for 2019, 51% of small business owners are older than 50.
(Source: Small Business Trends)
Another 33% are in the 35-49 age bracket, and only 16% are under 35.
Essentially this means you are allowed to have one (or a few) failed attempts early on. You can still be successful later in life. It gets even better because: In the immortal words of Shakespeare, the world is a stage (for startups as well).
2. In 2017, Vancouver was ranked the best city in the world for startups.
(Source: People Per Hour)
Surprised it’s not San Francisco?
Here’s why Vancouver makes sense:
The Canadian West Coast metropolis actually has a lot going for it. It’s consistently ranked as one of the most liveable cities in the world. It offers a high quality of life and abundant access to office space. It also makes it as easy as possible to get a company off the ground. It also possesses some incredibly cool vibes you have to experience for yourself.
The German capital Berlin, a well-known startup-hub, ranked second. Somewhat surprisingly, Manchester came third, ahead of San Francisco, New York, and London.
3. According to business startup statistics, Panama was the best country in the world to start a business in 2017.
(Source: Business Insider Nordic)
Quite a shocker, isn’t it? Panama defends its reputation as a tax haven, scoring a full 10 out of 10 on the favorability of its tax environment. It is not without its flaws, however – corruption is a particular concern.
Two small but highly developed Western European states which offer tax incentives to new businesses, Luxembourg and Switzerland, came second and third respectively.
4. At 63%, the information industry had the highest startup business failure rate in 2018, as tech startup statistics show
(Source: Failory)
This is partly due to its popularity. In many ways, it’s become a victim of its own success. There are a lot of information startups out there, many of them based on extremely flimsy premises.
Construction had the second highest failure rate with 53%. And the lowest?
Finance insurance and real estate had the lowest failure rate of surveyed industries with 42%. However, that’s still nearly one out of every two startups.
5. Healthcare was the strongest industry for US startups in the 2017 survey, with Inc. 5000 companies generating $36.3 billion in revenue.
(Source: Inc.)
The Inc. 5000 is an annual ranking of the fastest-growing private companies in the US. It featured 380 healthcare companies in 2017. With a total of $15.1 billion in revenue, the 236 financial services startups came second. Clearly, healthcare in the US continues to be one of the best startup industries as well as a politically loaded issue.
6. The rate at which startups were becoming unicorns in the US in 2018 had increased by 353.1% compared to 2013
(Source: TechCrunch)
The weird term “unicorn” refers to startups valued at over $1 billion. When Aileen Lee, a former Kleiner Perkins partner, coined it in 2013, there were just 39 companies that merited the title.
So, how many are there now? In 2018, there were 145 “active unicorns” in the US.