One current study by KfW Research concludes that start-ups with good financial knowledge have a better chance of succeeding in the market: They have fewer financing problems, finance themselves more cheaply, and abandon their projects less often. Of the approximately 2.5 million start-ups in the last three years, around one in six (17) has already disappeared from the market. If founders are familiar with financial topics such as credit financing, interest calculations, and inflation, the dropout rate is only 12, compared to 21 for those with poor financial knowledge.
Start-up entrepreneurs can address these financial knowledge gaps with targeted training courses in corporate finance and business planning. However, currently, fewer than one in three entrepreneurs participates in training courses before or upon starting their own business.
