When you hear the word “startup,” what comes into your head? Is it a group of 22-year olds running around a co-working space or five software engineers crammed into a garage in Silicon Valley? If either of these sound familiar, know that you are not alone with this perception of the modern-day startup. However, the truth is that startups don’t actually need to be small or chaotic. In fact, a startup doesn’t transition into being a larger company until they begin to open multiple offices, hire more than 80 employees, or generate more than $20 million in revenue.
So, what does it take for a startup to get off the ground? Unfortunately, only 10% of startups are successful every year because startups are so vulnerable to risk. Initial funding needs to come from pockets outside the company, so finding investors that believe in the startup’s mission is crucial.The experts at Embroker have compiled a guide to the 106 must-know startup statistics for this year, with everything from startup success and failure rates, to typical startup costs, to future predictions. You can read over the key findings in the infographic below, or take a look at the full guide.