Over one in five small and medium-sized businesses (SMBs) reported having only one to five months of cash reserves, risking running out by Christmas.
The study reveals that about 50% of small and medium businesses fail in their first year and 45% fail within five years.
Noel Hillman, chief commercial officer at Stenn, referred to small businesses as 'the unsung heroes of the economy in the U.S.'
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