Arizona ranks 10th in highest rate of small business failures in the first year – KYMA

YUMA, Ariz. (KYMA, KECY) – According to a recent study by Lending Tree, Arizona ranks 10th on the highest rate of small business failures in the first year at about 25%, the national average is around 23%. 

The rate also doubles to 50.4% in Arizona at the five-year mark.

Locally, the Small Business Development Center helps those entrepreneurs interested in starting a business or helps them where they are at in the business journey.

We talked to two local small businesses to hear their struggles while being open.

Both say the amount of people leaving for the summer has been a huge obstacle due to finding a way to adjust to the decrease in clientele.

Valeria Rodriguez will have more information tonight.