Kauffman Firm Survey on startups

Kauffman firm Survey came out to capture quite a bit of data on startups. They tracked new businesses that began in 2004 over the first two years.

Here is the link to the whole report: http://www.kauffman.org/pdf/kfs_08.pdf

Some highlights:
1) Less than half of businesses with employees offer benefits. Only 29% offered any form of health insurance.
2) 37% had zero revenue in their first year of operation.
3) 45% had a profit in their first year.
4) 3.4% of companies used parents as an external source of equity (Dad, I am calling later)
5) 35% of all businesses structured as a sole prop!
6) 30% tapped personal credit cards to bootstrap the business.

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