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Data and charts

The long game, in data

A company can be started in a week and run at a fast pace every day. Becoming an established one takes years. Public data shows how many, stage by stage.

Start a readiness review See how long it really takes

Three figures from public data

34.7% 1

of establishments that opened in 2015 were still open ten years later

5.67M 2

business applications filed in 2025 (5,671,836), a record: starting is not the hard part

2.0 3

years: the median gap between a Seed round and a Series A

  1. U.S. Bureau of Labor Statistics, Business Employment Dynamics, Table 7 , Data through March 2025
  2. U.S. Census Bureau, Business Formation Statistics , Release of 2026-10-14 (September 2026 data)
  3. Carta, State of Private Markets: Q1 2026 , 2026-05-29

Day to day, a startup moves quickly: decisions in hours, releases in days. Year to year, the clock is different. This page follows the public numbers along a founder’s route, from the first filing to the exit.

Every chart names its source, shows the data as a table, and says how the figures were handled. The numbers are about all new U.S. businesses.

Of 100 establishments that opened in 2015, how many were still open at year 10 34.7 of every 100 were still open at year 10. Most of the closing happens in the first five years; the years after are quieter.
  • 20.4% closed in year 1
  • 29.4% closed in years 2 to 5
  • 15.5% closed in years 6 to 10
  • 34.7% still open at year 10
Of 100 establishments that opened in 2015, how many were still open at year 10 A grid of 100 squares. 20.4 closed within the first year, 29.4 in years 2 to 5, 15.5 in years 6 to 10, and 34.7 were still open ten years after opening.

Each square is one in every hundred establishments that opened in 2015. Squares are rounded so they add to 100; the exact figures are in the table.

Show the data as a table
Of 100 establishments that opened in 2015, how many were still open at year 10
GroupExact figureSquares (of 100)
closed in year 120.4%20
closed in years 2 to 529.4%29
closed in years 6 to 1015.5%16
still open at year 1034.7%35

Source: U.S. Bureau of Labor Statistics, Business Employment Dynamics, Table 7 , Data through March 2025

Retrieved 2026-10-15. Each share is a difference between two published survival rates (all private industries); the squares are rounded to add to 100.

In this section

Stage 1 of 5, formation

More people start than ever

Applications to start a business reached 5,671,836 in 2025, more than double 2005, in every industry. Beginning is fast.

That is the pace of the first week. The rest of this page is about the years.

More on starting: industries, and how many applications become employers

U.S. business applications by industry, 2005 to 2025 More people start than ever: 5,671,836 applications in 2025, more than double 2005. Starting is not the hard part.
U.S. business applications by industry, 2005 to 2025 Stacked areas of yearly applications. The total rose from 2,485,100 in 2005 to 5,671,836 in 2025; retail trade and professional services are the two largest named layers, and the all-other layer is the rest of the economy. 0k 2,000k 4,000k 200520092013201720212025 ■ Professional and technical ■ Retail ■ Construction ■ Health care ■ Transport ■ All other
Show the data as a table
U.S. business applications by industry, 2005 to 2025
YearProfessional, scientific and technical servicesRetail tradeConstructionHealth care and social assistanceTransportation and warehousingAll other industries
2005309.1k299.9k356.7k148.1k127.2k1,244.1k
2006328.3k308.5k359.2k158.5k144.8k1,316.5k
2007344.8k321k326.4k165.7k141.2k1,334.9k
2008357.3k335.3k286.9k175.6k123.7k1,280.2k
2009362.7k327.8k238.8k168.1k109.8k1,199.1k
2010369.3k335.6k228k172.2k124.9k1,243.9k
2011381.5k354k228k174.5k130.4k1,282k
2012373.6k350.6k224.3k171.7k134.9k1,295.1k
2013374.1k359.3k242.4k174.4k142.9k1,298.3k
2014386.4k366.1k260.5k180.6k163.1k1,334.3k
2015391.9k376.4k284.4k190.3k182.1k1,370.9k
2016408.7k410.1k306.8k201.1k187.3k1,434.3k
2017423.6k446.1k339.5k203.3k199.9k1,570.2k
2018456.7k479.2k368.4k217.3k238.2k1,727.1k
2019456.9k518.4k382.1k224.9k239k1,677.6k
2020534.1k825.4k406.8k267k320.3k2,002.9k
2021612.7k985.6k499.4k297.6k477.3k2,518.3k
2022606k871.1k496.1k295.7k427.8k2,365.8k
2023674.4k971.4k545.9k325k393.1k2,559.6k
2024668k940.1k522k325.1k351.2k2,417.8k
2025764k1,166k519.1k352k366.7k2,504k

Source: U.S. Census Bureau, Business Formation Statistics , Release of 2026-10-14 (September 2026 data)

Retrieved 2026-10-15. Each value is the sum of twelve monthly not-seasonally-adjusted counts; "All other industries" is the total minus the five named industries.

Stage 2 of 5, first revenue

The first payroll is arriving later

For applications that did become employer businesses, the average wait from application to first payroll grew to 2.29 quarters in 2021.

A first hire is a milestone measured in quarters, and the wait is getting longer, not shorter.

Average quarters from application to first payroll, 2005 and 2021 Getting from an application to a first payroll now takes about 2.29 quarters on average, up from 1.48 in 2005.
Average quarters from application to first payroll, 2005 and 2021 Two lines from 2005 to 2021. Among applications that became employer businesses within eight quarters, the average wait rose from 1.48 to 2.29 quarters; within four quarters it rose from 0.95 to 1.39. 2005 2021 Within 8 quarters 1.48 quarters 2.29 quarters Within 8 quarters Within 4 quarters 0.95 quarters 1.39 quarters Within 4 quarters
Show the data as a table
Average quarters from application to first payroll, 2005 and 2021
Group20052021Change
Within 8 quarters1.48 quarters2.29 quarters+0.8 quarters
Within 4 quarters0.95 quarters1.39 quarters+0.4 quarters

Source: U.S. Census Bureau, Business Formation Statistics , Release of 2026-10-14 (September 2026 data)

Retrieved 2026-10-15. Values are the published average duration (BF_DUR4Q and BF_DUR8Q) for applications filed that year. They cover only applications that formed an employer business.

Stage 3 of 5, the survival years

The first five years decide the most

About half of new establishments are gone by year 5, and 50.2% of the 2015 group were still open at year 5. After year 1 the yearly risk falls steadily, and it keeps falling for a decade.

The pattern has held for opening-year groups from 1994 to 2020. That steadiness is the point: the timeline is the same one every founder meets.

All the survival charts: six groups, three industries

Share of survivors that close in each year of life, seven opening-year groups The risk is front-loaded: year 1 is by far the hardest, and it keeps easing for a decade.
Share of survivors that close in each year of life, seven opening-year groups Seven curves, one per opening-year group, show the percent of establishments open at the start of a year that are gone by the next March. Each curve peaks in year 1, at 20 to 23 percent, and falls to between 4 and 6.5 percent by year 13. 135791113 1994199720002003200620092012 Year of life. Every curve uses the same vertical scale, 0 to 25%.
Show the data as a table
Share of survivors that close in each year of life, seven opening-year groups
GroupAt year of life 1At year of life 2At year of life 3At year of life 4At year of life 5At year of life 6At year of life 7At year of life 8At year of life 9At year of life 10At year of life 11At year of life 12At year of life 13
199420.4%14.4%11%10.4%8.6%8.8%8.3%7.6%6.7%5.9%5.5%4.5%5.4%
199721.5%13%11.9%11.8%10.2%8.3%7.3%7%5.4%6.1%5.8%7.1%5.9%
200021.6%15.8%11.8%9.3%8.6%7.3%7%7.2%8%7.4%5%4.6%4%
200320.7%13.7%10.2%10%9.6%10.3%8.7%6.9%5.4%5.1%5.5%4.9%5.2%
200621.7%15.4%14.5%12.1%8.8%6.8%6.4%6.4%6.2%5.9%5.4%5.6%5.5%
200923.3%13.4%9.8%8.5%8.5%7.9%7.3%7%6.3%6.1%6.6%5.9%4.7%
201220.8%13.3%10.9%9.6%9.4%7.5%7.4%7.6%6.8%5.6%7.6%6.5%6.3%

Source: U.S. Bureau of Labor Statistics, Business Employment Dynamics, Table 7 , Data through March 2025

Retrieved 2026-10-15. Each value is 100 minus the published survival rate of the previous year's survivors (all private industries).

Stage 4 of 5, funding rounds

Each round is years apart

Among venture-backed companies, the median gap from Seed to Series A is 2.0 years, from A to B 2.1 and from B to C 2.4. A company raising a Series E or later is a median 9.5 years old.

Fast-paced work happens inside those years. The calendar does not speed up for it.

The funding clock: gaps, ages and dilution

How long each stage takes: published figures on one clock Fast weeks, slow years: each stage is measured in years, not quarters.
  • Getting started
  • Funding rounds
  • Staying open
  • When it ends

Application to first payroll (businesses that hired within two years) 2.29 quarters on average, 2021 applications

Until a business counts as established More than three and a half years old

Seed to Series A (median gap) 2.0 years

Series A to Series B (median gap) 2.1 years

Series B to Series C (median gap) 2.4 years

Median company age raising a Series A 2.8 years old

Median company age raising a Series D 7.4 years old

Median company age raising a Series E or later 9.5 years old

Half of new establishments gone (2015 opening-year group) 50.2% still operating at year 5

Still operating at year 10 (2015 opening-year group) 34.7% still operating at year 10

Last fundraise to shutdown, venture-backed companies that closed (median) 22 months

Time since the start, in years.

Show the data as a table
How long each stage takes: published figures on one clock
RowStartEndAs published
Application to first payroll (businesses that hired within two years)0 years0.6 years2.29 quarters on average, 2021 applications
Until a business counts as established0 years3.5 yearsMore than three and a half years old
Seed to Series A (median gap)0 years2 years2.0 years
Series A to Series B (median gap)0 years2.1 years2.1 years
Series B to Series C (median gap)0 years2.4 years2.4 years
Median company age raising a Series A2.8 years2.8 years2.8 years old
Median company age raising a Series D7.4 years7.4 years7.4 years old
Median company age raising a Series E or later9.5 years9.5 years9.5 years old
Half of new establishments gone (2015 opening-year group)5 years5 years50.2% still operating at year 5
Still operating at year 10 (2015 opening-year group)10 years10 years34.7% still operating at year 10
Last fundraise to shutdown, venture-backed companies that closed (median)0 years1.8 years22 months

Figures describe all U.S. businesses or, for the funding rows, venture-backed companies. They are not WE’s results.

Sources: U.S. Census Bureau, Business Formation Statistics , Release of 2026-10-14 (September 2026 data) ; Global Entrepreneurship Monitor, United States Report 2019/2020 , 2020 ; Carta, State of Private Markets: Q1 2026 , 2026-05-29 ; U.S. Bureau of Labor Statistics, Business Employment Dynamics, Table 7 , Data through March 2025 ; CB Insights, The top reasons startups fail (2026) , 2026-03-05

Retrieved 2026-10-15. Each row is one published figure placed on the clock; bars are separate durations measured from the same start, not a chain that adds up. Carta figures are quoted one by one.

Stage 5 of 5, exits and growth

The companies that grow fastest are founded by people with years behind them

Among U.S. startups founded in 2007 to 2009, the fastest-growing 1 in 1,000 had founders averaging 45.0 years old, against 41.8 for all startups. Founders of companies that exited averaged 46.7.

Experience and patience travel together. The data does not say that age causes growth; it says the picture of the young founder racing is not the whole picture.

Who starts, and who builds the fastest-growing firms

Average founder age by growth tier, startups founded 2007 to 2009 The firms that grew fastest were not founded by the youngest people. They were founded by people in their mid-forties.
Average founder age by growth tier, startups founded 2007 to 2009 Six rows with a dot at the mean founder age and a bar for one standard deviation either side. All startups average 41.8 years; the fastest-growing 1 in 1,000 average 45.0; startups that exited by IPO or acquisition average 46.7. The bars overlap almost entirely. 20 30 40 50 60 70 Mean founder age, in years All startups 41.8 Fastest-growing 10% 41.6 Fastest-growing 5% 42.1 Fastest-growing 1% 43.7 Fastest-growing 1 in 1,000 45.0 Successful exit (IPO or acquisition) 46.7
Show the data as a table
Average founder age by growth tier, startups founded 2007 to 2009
GroupMeanStandard deviationMean minus 1 SDMean plus 1 SDFounders in the group
All startups41.8 years11.9 years29.9 years53.7 years1,079,000
Fastest-growing 10%41.6 years11.5 years30.1 years53.1 years126,000
Fastest-growing 5%42.1 years11.5 years30.6 years53.6 years62,000
Fastest-growing 1%43.7 years11.1 years32.6 years54.8 years13,000
Fastest-growing 1 in 1,00045 years10.7 years34.3 years55.7 years1,700
Successful exit (IPO or acquisition)46.7 years10.6 years36.1 years57.3 years4,000

Source: Azoulay, Jones, Kim and Miranda, Age and High-Growth Entrepreneurship (NBER WP 24489; AER: Insights 2020) , April 2018 (working paper); March 2020 (AER: Insights)

Retrieved 2026-10-15. Means, standard deviations and founder counts are copied from Table 5 as printed; growth is employment five years after founding.

Fast pace every day. Patience across the years.

WE is a long-horizon business incubation and consulting firm. A dedicated, fully remote team works with a founder day to day at startup speed, and for as long as the work is useful, because the years are what they are.

These figures describe all new U.S. businesses, not WE's results.

No one can promise that a company will survive, and WE makes no promise of funding.

Start a readiness review See how long it really takes

Sources and method

Every figure is copied from the publisher or computed from published numbers by simple arithmetic, and says how. Figures that could not be verified are left out. These figures describe all new U.S. businesses, not WE's results.

  1. Business Employment Dynamics, Table 7: Survival of private sector establishments by opening year (Total Private)

    U.S. Bureau of Labor Statistics. Published: Data through March 2025. Retrieved 2026-10-15.

    What WE did. Values are copied as printed: "Survival Rates Since Birth" and "Survival Rates of Previous Year's Survivors". Each opening-year group is the establishments that opened in the twelve months ended March of the year named. Ages are the number of Marches since opening.

    • The unit is the establishment (one location), not the firm: a new branch of an existing company counts as an opening.
    • Private employer establishments only; businesses with no employees are not covered.
    • An exit is not always a failure: closures include sales, mergers and voluntary closures of healthy businesses.

  2. Business Employment Dynamics, Table 7: Survival of private sector establishments by opening year (Information, NAICS 51)

    U.S. Bureau of Labor Statistics. Published: Data through March 2025. Retrieved 2026-10-15.

    What WE did. Values are copied as printed ("Survival Rates Since Birth").

    • Information includes software publishers, telecommunications, media and data processing; it is not software alone.
    • Industry cells are small, and a published curve can rise between two years (for example the 2002 opening-year group between years 20 and 21) when establishments are reclassified. Values are shown as published.

  3. Business Employment Dynamics, Table 7: Survival of private sector establishments by opening year (Professional, Scientific, and Technical Services, NAICS 54)

    U.S. Bureau of Labor Statistics. Published: Data through March 2025. Retrieved 2026-10-15.

    What WE did. Values are copied as printed ("Survival Rates Since Birth").

    • Includes consulting, legal, accounting, design and computer systems design.

  4. Business Formation Statistics, monthly series (bfs_monthly.csv)

    U.S. Census Bureau. Published: Release of 2026-10-14 (September 2026 data). Retrieved 2026-10-15.

    What WE did. Annual totals are the sum of the twelve not-seasonally-adjusted monthly U.S. values of a series (BA_BA applications, BA_HBA high-propensity applications, BF_BF4Q and BF_BF8Q formations within four and eight quarters), by NAICS sector where the file gives one. Quarters to first payroll (BF_DUR4Q, BF_DUR8Q) are the mean of the twelve monthly values. Sector groups are sums of the file's sector codes.

    • The Census Bureau revises the series each year (next revision scheduled with the October 2026 release).
    • An application is a request for an employer identification number, not a launched business; a formation is the first payroll.
    • Duration is measured only for applications that formed an employer business within the window.

  5. Business Formation Statistics: Definitions

    U.S. Census Bureau. Published: Current page. Retrieved 2026-10-15.

    What WE did. Definitions only; no figures are taken from this page.

  6. National Report on Early-Stage Entrepreneurship in the United States: 2025

    Ewing Marion Kauffman Foundation (Robert W. Fairlie). Published: May 2026. Retrieved 2026-10-15.

    What WE did. Table 5 (rate of new entrepreneurs by age group, 1996 to 2025) is copied as printed.

    • The rate of new entrepreneurs is the percent of people aged 20 to 64 who do not own a business in one survey month and start one in the next with 15 or more hours worked a week.
    • Estimates come from the Current Population Survey and include businesses with no employees.

  7. Trends in Entrepreneurship: Who Is the Entrepreneur? 1996 to 2021

    Ewing Marion Kauffman Foundation. Published: October 2022. Retrieved 2026-10-15.

    What WE did. Table 3 (share of new entrepreneurs by age group, 1996 to 2021) is copied as printed.

    • Current Population Survey estimates; the four age groups cover ages 20 to 64 only.

  8. Age and High-Growth Entrepreneurship (NBER Working Paper 24489; published in American Economic Review: Insights 2(1), 2020)

    Azoulay, Jones, Kim and Miranda, National Bureau of Economic Research. Published: April 2018 (working paper); March 2020 (AER: Insights). Retrieved 2026-10-15.

    What WE did. Table 5 (mean founder age, standard deviation and count by growth tier and region or type of firm) is copied as printed. A band drawn from the mean minus one standard deviation to the mean plus one is our arithmetic.

    • Table 5 covers firms founded 2007 to 2009; growth is employment five years after founding, so the "top 0.1%" tier is 1,700 founders.
    • Successful exit means an IPO or an acquisition; those were about 0.15% of founders.
    • Association, not a prediction for any one founder.

  9. State of Private Markets: Q1 2026

    Carta, Inc. (Carta Data). Published: 2026-05-29. Retrieved 2026-10-15.

    What WE did. Single figures are quoted as the report prints them (medians of U.S. venture-backed companies on Carta). Nothing is re-hosted, and no figure is recomputed.

    • Venture-backed companies on the Carta platform only, a small share of all new businesses.
    • Medians describe companies that raised the next round; companies that did not are not in them.

    The report is marked "Reproduction prohibited". WE quotes specific figures with attribution and re-hosts no dataset.

  10. The top reasons startups fail

    CB Insights. Published: 2026-03-05. Retrieved 2026-10-15.

    What WE did. The median of 22 months from last fundraise to shutdown is quoted as printed.

    • 431 venture-backed companies that publicly shut down since 2023; self-reported post-mortems.

  11. Global Entrepreneurship Monitor, United States Report 2019/2020

    Babson College, Global Entrepreneurship Monitor. Published: 2020. Retrieved 2026-10-15.

    What WE did. The age at which a business counts as established ("more than three and a half years old") is quoted; 3.5 years is the same figure as 42 months.

    • A definition used for counting, not an outcome.