As of March 2021, only 80% of startups survived after one year. The Small Business Administration (SBA) defines a "small" business as one with 500 employees or less. According to business owners, reasons for failure include money running out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an expert in the industry. Ways to avoid failing include setting goals, accurate research, loving the work, and not quitting.