BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: Business
Front Page 
UK Politics 
Market Data 
Your Money 
Business Basics 
Talking Point 
In Depth 
Wednesday, 24 May, 2000, 18:12 GMT 19:12 UK
Only failures need apply
startupfailures failures are starting to pile up
By BBC News Online internet reporter Mark Ward

Someone was bound to see the growing numbers of casualties as an opportunity for a new web business.

Now Californian entrepreneur Nicholas Hall is building a success out of failures.

Hall has started up, a website that helps entrepreneurs who have seen their internet businesses crash and burn start all over again.

In true Silicon Valley style startupfailures has gone from a good idea into a thriving web community in a matter of weeks.

Now the site is visited by thousands of people per day looking for help and advice on starting up their next online business.

Having a failed business in the US is like a rite of passage

Mark Simon,
The Chemistry

The website has a ready made community that it can tap into. Hall estimates that only 6 out of every thousand business plans get funded and that 40% of businesses fail within the first five years of operation.

In the last week high-profile web retailer Boo and startup Netimperative have gone bust. This Friday Entertainment Express is expected to close its doors.

Dot.dom crash

Hall says he is more than qualified to run because he has founded two companies that flopped and worked for a third that went belly up.

Startupfailures offers advice to entrepreneurs on how to bounce back and get their next venture going.

With Hall says he is not looking to go for an Initial Public Offering (IPO). "I want to focus on keeping it real and focusing on serving the community," he said.

This time around he is hoping that he has got it right and that nothing succeeds like other people's failure.

"Having a failed business in the US is like a rite of passage," said Mark Simon, founder of networking company The Chemistry.

Mr Simon said that British attitudes to failure were slowly starting to see that failure was not always a bad thing. Mr Simon said he has started a business that failed but he learnt a huge amount from the process.

"There are very few entrepreneurs in this country that have got it right first time," he said.

Search BBC News Online

Advanced search options
Launch console
See also:

18 May 00 | Business
Top web retailer collapses
18 May 00 | Business
From to Boo.gone
18 May 00 | Business
The future of e-tailing
Internet links:

The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.

E-mail this story to a friend

Links to more Business stories