Starting business straight out of undergrad ...consequences?

I am wondering what the consequences are of starting your own business straight out of undergrad. I ask because I worry that if my business were to fail 2 or 3 years down the road and I had to go into a corporate industry, would any business take me? Most businesses seem to only want to take kids straight out of undergrad so that they can mold them from the beginning and not reteach them everything.

If I were to take the entrepreneur route now, what would the likely hood be that I could get into an entry level - ie. Analyst position if I would need to later on down the road.

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