Apparel Accessories and Other Apparel Manufacturing — Business Survival Rate

An estimated 55% of apparel accessories and other apparel manufacturing businesses survive their first 5 years, based on U.S. Census Bureau Business Dynamics Statistics. The annual business closure rate is 11.1%.

55%
5-Year Survival Rate
-0.7%
Net Growth Rate
631
Total Firms
62
Annual Firm Deaths

Is Apparel Accessories and Other Apparel Manufacturing a Good Business to Start?

With a 55% five-year survival rate, apparel accessories and other apparel manufacturing is near the national average (~50%). This means roughly half of new entrants will still be operating after 5 years — typical business risk that rewards solid planning and execution.

The annual exit rate of 11.1% indicates moderate turnover. Success depends on differentiation, location, and operational efficiency rather than inherent industry advantages.

Entry vs. Exit Rates

Annual rate of new businesses opening versus existing businesses closing.

Entry Rate (new businesses)15.8%
Exit Rate (closures)11.1%

Net positive: more businesses opening than closing (+4.6 pp spread).

Job Creation & Destruction

13.3%
Job Creation Rate
14.0%
Job Destruction Rate
-0.7%
Net Job Growth

The industry is losing jobs faster than creating them — which may indicate automation, consolidation, or declining demand. Total employment: 8,680 workers across 631 firms.

Want to know how much apparel accessories and other apparel manufacturing businesses actually make?

See full revenue benchmarks for Apparel Accessories and Other Apparel Manufacturing →

Frequently Asked Questions

What percentage of apparel accessories and other apparel manufacturing businesses fail?
Approximately 45% of apparel accessories and other apparel manufacturing businesses fail within their first 5 years. The annual closure rate is 11.1%, with 62 firms closing permanently in 2023.
Is the apparel accessories and other apparel manufacturing industry growing or shrinking?
The apparel accessories and other apparel manufacturing industry is currently stable with a net job creation rate of -0.7% per year. New businesses are entering at 15.8% while 11.1% close annually.

Source: U.S. Census Bureau, Business Dynamics Statistics (2023). Survival rate estimated from annual exit rates.