8 Out of 10 Statistics Are Completely Made Up (STA BREAKING NEWS and ARCHIVES)

by Theresa , Friday, January 30, 2015, 23:34

According to a study done by Bloomberg, 8 out of 10 small businesses will fail within the first 18 months.

The only problem is that this study done by Bloomberg doesn't exist. Or at least, isn't public anywhere on the Internet. Or referenced specifically, other than, "a study done by Bloomberg." But there are hundreds of articles referencing it, even one on Forbes. And worse, there are even more articles that reference the Forbes article. Thousands of them.

Out of the plethora of articles I read in real publications (i.e. not just blogs) that reference this study by Bloomberg, not one cites the name of the study, a link to the study or more information past, "a study done."
An actual study done by Bruce D. Phillips, of the National Federation of Independent Business, and Bruce A. Kirchhoff, director of the New Jersey Institute of Technology found that half the companies polled survived the first five years.

Also, what does "failed" even mean? Bankruptcy? Turning no profit? Not turning enough profit to sustain itself? Not making enough money to afford the lifestyle to which the founders were accustomed? Maybe it continue? Does it take into account businesses that were sold? Closed due to personal/family issues? Maybe it's because the companies backed by VC money didn't turn enough profit for their investors? Which specific industries fail more than others?

FULL STORY