How This Couple Built a Restaurant Food Critics Can't Ignore
Listen to the original audio · Transcribed with NVIDIA Parakeet · Why times can differ in your player
Hey, before we get going, let me tell you that you can listen to this episode totally ad free. And right now there's a free trial. So you can sign up on Apple, on Spotify, or on the high performance website. Hi there, I'm Jay Comfrey and this is Startup to Standouts, a short series from high performance in partnership with Lloyds Bank, and this is actually the final episode of our mini series. I've loved talking about entrepreneurship, sharing with you the challenges of businesses, how hard it is to actually go it alone. And look, many of us know the entrepreneurship journeys are tough, but the stats drive home just how hard it is. 60% of businesses fail in the first three years, 20% of them fail in the first year, just 42 and a half percent of new businesses. Make it to the five year mark.
And that's really what this series is about, just understanding the challenges, but also inspiring people like you. To give it a go. And I'm feeling rather inspired today because I'm returning home actually to Norwich to meet the owners of a gorgeous French restaurant called Lexagon. And you know what? Starts around new restaurants are even more alarming than the ones I just told you. Sixty percent of restaurant businesses fail.
In the first year. So why? What can we learn from today's conversation? To help other people. Well, I'm really pleased to say that actually Lloyds have supported Thomas and Gemma, the founders and creators of Lexicon, who set the business up. They've provided holistic business support as well as guidance on starting, growing and managing their awesome business. So
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