According to the U.S. Small Business Administration, about half of new businesses survive more than five years. By 10 years that number drops to a third. The age of a firm can say a lot about its overall success in its industry. However, it is debated as to whether the more established firms pay employees more than new companies do.
The majority of Idaho’s employment is with older firms. Almost three quarters of Idaho’s stable jobs – those that last at least a full quarter – are in firms that have been in business 11 years or longer. The next oldest group, those that have been operating for six to 10 years, follow with 13 percent of the total employment. The younger firms employ around 4 percent each, so combined they come in just under 13 percent.