Being in this business, we see many local businesses come, and unfortunately, we see many of them go- in the blink of an eye sometimes.

In fact, the vast majority of small businesses do fail. 65% of small businesses fail within the first 10 years, 45% during the first five, and 20% during the first two years. That's a whole lot of dead hopes and dreams.

canva
canva
loading...

With only one in four businesses making it past 15 years of operation, its a wonder to me that so many people proceed without caution, and open their own businesses despite the odds. Really, it's quite admirable and I do respect their grit and bravery- and their willingness to work hard for what they want.

However- and this is a big HOWEVER, many people jump in feet first without knowing what they are doing. I've seen the same easily avoidable mistakes made over and over again. I can tell with pretty good accuracy when a business isn't going to survive.

Of course, I support local whenever I can, but for many of these businesses,  its their own fault they don't survive.

So, I've compiled a list of the things I see small businesses do that ring their own death bells. Otherwise, good luck out there, I really do want to see these places succeed.

A Look At Why So Many Small Lubbock Businesses Fail

20% of new businesses fail in the first year and 50% fail in the first five. There are many reasons why- from economic pressures to bad luck. But for many businesses, the blame falls on the business itself.

Gallery Credit: Renee Raven

Lubbock Folks Reveal: Major Restaurant Red And Green Flags

When it comes to going out to eat, we have plenty of options here in Lubbock. Here are the make-or-break green and red flags that influence our decision.

Gallery Credit: Renee Raven

Big Yum: Texas Based Restaurant Chains With The Most Locations

Many iconic (and delicious) restaurant chains got their start in Texas. Here's a look at Texas eateries with over 100 locations- some with over 1000!

Gallery Credit: Renee Raven

 

More From KFMX FM