In a sign that the U.S. economy is finally on the (gradual)upswing, the entrepreneurial rate in the U.S. is now higher than itwas at the height of the dot.com bubble of 15 years ago, accordingto the Kaufman Index of Entrepreneurial Activity (KIEA)—whichcurrently lists more than 20 million non-employer businesses, withmore starting every day.

As defined by the U.S. Census Bureau, non-employer businesseshave no paid employees, have annual receipts of at least $1,000 andare subject to federal income taxes. These new businesses can rangefrom part-time consultants to billion-dollar startups backed by bigprivate-equity money.

But no matter the size of the business, the journey tosuccessful entrepreneurship can be treacherous. According tothe Census Bureau, 16% of companies fail their first year ofoperation, and 32% fail within their first three years. Most ofthose failures are due to incompetence and lack of experience,according to a January2014 study in Entrepreneur Weekly by the Small Business DevelopmentCenter at Bradley University and University of TennesseeResearch.