Weekly Viz 2024-04-22

New Business 1-Year Survival Rates

This week I was browsing The Ecomonics Daily newsletter published by the US Bureau of Labor Statistics. They share insightful (and sometimes very creative) data points every day. The one that caught my attention is the 1-year survival rates for new business establishments. It shows how many new business are still alive after 1-year by their establishment year and region. I am honestly a bit surprised with this ~80% survival rate.

My Visualization

This visualization is a line chart, with the selected region highlighted. The selection interaction is achieved by the Tableau Set dashboard actions.

Please notice that all the visualizations are designed for desktop view, so it is recommended to view them on a desktop device.

Dashboard link

Insights

• The average 1-year new business survival rate is around 77% across all the regions, and there is no clear pattern of one region outperforming other regions;
• We see a drop in 1-year survival rate for business started in 2001 and 2008, corresponding with the recession cycles; while most regions see a survival rate increase for new businesses established in 2020, aligning with the stock market hype.

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