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ProjectionHub

10 Key Startup Statistics | Read About Top First Year Business Goals for Your Startup – ProjectionHub

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See How You Compare with These 10 Key Startup Statistics

At ProjectionHub we help entrepreneurs create financial projections and goals for business without using Excel. Over the last six months, we have had thousands of business owners use our tool to create their financial projections. Out of the thousands of users, we chose 800 accounts to generate real startup statistics. We took this aggregate data and found some interesting trends and numbers that we wanted to share. Approximately 80% of our users are startup companies, so here are 10 key startup numbers for you to compare to your startup as well as a business startup
timeline for them. Check out some of our first year business goals and see your business or startup stacks up!

Startup Capital

1.  Average Investment – $448,000

2.  Average Business Loan – $304,000

3.  Average Loan Term – 50 months

4.  Average Interest Rate – 8%

Days to Get Paid

5.  Average Number of Days to Get Paid for Products – 16 days

6.  Average Number of Days to Get Paid for Services – 22 days

Margins for Startups

7.  Average Gross Margins for Products – 65%

8.  Average Gross Margins for Services – 71%

Startup Sales Growth

Over 36 months of projections the average monthly growth rate for sales was as follows:

9.  Average Monthly Sales Growth Rate Products – 17%

10. Average Monthly Sales Growth Rate Services – 5%

ProjectionHub Partners With Industry Leader, Growthink, to Further Support Clients

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We are extremely excited to announce that ProjectionHub has now partnered with Growthink to provide our clients with a higher level of attention and expertise when it comes to their financial projections.   Although the ProjectionHub tool is sufficient for many entrepreneurs looking to create a set of financial projections, some business owners are planning on investing tens of thousands or even hundreds of thousands of dollars into their venture, and before they wipe out their retirement account, it would be good to have an expert’s set of eyes on their financial model.

That is where Growthink comes in.  Since 1999 Growthink has worked with over 500,000 entrepreneurs to successfully start, grow and exit their businesses – they are truly the experts in this arena. At ProjectionHub we are focused on building a great product, not providing 1 on 1 consulting services, and yet many of our users need additional support.  Growthink fills that gap for us.

We have specifically partnered with Anna Vitale the Engagement Manager at Growthink and her team to help provide financial modeling, valuation and investment banking services for our clients.  Growthink makes a great addition to our growing list of partners at ProjectionHub.