Biggest Factors in Start-Up Survival

Professor and venture capitalist Scott Shane in his New York Times blog says that only half of start-ups survive for five years, according to the Small Business Administration's Office of Advocacy. Shane argues that there is quite a body of research that shows what factors best help a start-up to better survive. Here's five:

1. Operating in an industry in which the odds of failure of the average business are lower.

2. Starting the venture as part of a team.

3. Writing a business plan.

4. Gaining work experience prior to starting the company, particularly in the industry in which your new company will operate.

5. Starting the business on a full-time basis.