No industry is easy to break into, but while most industries enjoy a 50% chance of success after being in business for 4 years, fashion businesses have a 53% chance of closing in their fourth year! One major reason is of course growing competition – but a major hiccup is the business side of fashion itself. As a potential fashion entrepreneur, you must understand marketing and digital marketing, money and time management – all while continuously looking to reinvent your creativity every season. So understand bottom lines, economies of scale and most importantly learn on the job. Simple!