A recent study from a qualified credit tracking company assures that in the past quarters, bankruptcies for small businesses are on a downward slope, conditioning environment conducive for small scale entrepreneurs to thrive in their settings. The study also hints that the situation only grows better. Equinox study reveals that from the last quarter of 2009 to the last quarter of 2010, 10 on 15 metropolitans with the most small business bankruptcy petitions showed a significant decline. The average drop for the top 15 areas was 6.16 percent, which is a noteworthy drop.
This surely offered relief to most of the small organizations reeling under the wrath of slump recession. There were also, a few areas that showed an increase in the bankruptcy petitions by the small entrepreneurs, for example, chief areas in California. We are still awaiting a rebound in the bankruptcy ratio for small businesses. Bankruptcy petitions in California totalled to nearly 25% of all U.S. small business bankruptcy filings between the last quarter of 2009 and the last quarter of 2010. It also suggests clearly, that it will be a while before we see a decline in these marks in California.
"For small businesses, the road to economic recovery was marked by a number of challenges in 2010 and many states such as California and Oregon face an uphill battle in the months ahead," Dr. Reza Barazesh, senior vice president, Equifax Commercial Information Solutions opinionated. However, despite these hurdles and odds, we now witness sturdy signs of recovery. The recent analysis indicates that bankruptcy trends are easing down, thus creating an environment that is more cultivating for small business development, growth and expansion.
The areas that top the list of highest bankruptcies include Los Angeles metro area (where petitions jumped 13.68 % in the last year), Houston-Sugarland area, Wisconsin-Rest of State area, New York-White Plains, NY area, and the San Jose, California area. The disruptions, untimely delays in loan repayments, too were the highest in these areas. In other districts, there was a lively movement in loan re-imbursements and business developments.
The bottom line is, that the study whiffs comfort to the small or budding entrepreneurs. It breathes some hope and vitality in those trying to craft possibilities for their business ventures. They can hopefully exert twice as hard this year. Few areas where on could foresee better times were, Chicago-Naperville area where bankruptcies fell 30.13% ,the Sacramento-Roseville, Ca. area saw a drop of 20.25% in bankruptcy petitions, Denver-Aurora zone had 20.52 % fewer filings. Other areas with double-digit declines include the San Diego, Anaheim, and Portland metro areas.
The findings thus assure that slowly and steadily we are reaching full circle, from where we began. Fruitful times are returning, this time to stay!
Visit us at : www.FundFactor.com
This surely offered relief to most of the small organizations reeling under the wrath of slump recession. There were also, a few areas that showed an increase in the bankruptcy petitions by the small entrepreneurs, for example, chief areas in California. We are still awaiting a rebound in the bankruptcy ratio for small businesses. Bankruptcy petitions in California totalled to nearly 25% of all U.S. small business bankruptcy filings between the last quarter of 2009 and the last quarter of 2010. It also suggests clearly, that it will be a while before we see a decline in these marks in California.
"For small businesses, the road to economic recovery was marked by a number of challenges in 2010 and many states such as California and Oregon face an uphill battle in the months ahead," Dr. Reza Barazesh, senior vice president, Equifax Commercial Information Solutions opinionated. However, despite these hurdles and odds, we now witness sturdy signs of recovery. The recent analysis indicates that bankruptcy trends are easing down, thus creating an environment that is more cultivating for small business development, growth and expansion.
The areas that top the list of highest bankruptcies include Los Angeles metro area (where petitions jumped 13.68 % in the last year), Houston-Sugarland area, Wisconsin-Rest of State area, New York-White Plains, NY area, and the San Jose, California area. The disruptions, untimely delays in loan repayments, too were the highest in these areas. In other districts, there was a lively movement in loan re-imbursements and business developments.
The bottom line is, that the study whiffs comfort to the small or budding entrepreneurs. It breathes some hope and vitality in those trying to craft possibilities for their business ventures. They can hopefully exert twice as hard this year. Few areas where on could foresee better times were, Chicago-Naperville area where bankruptcies fell 30.13% ,the Sacramento-Roseville, Ca. area saw a drop of 20.25% in bankruptcy petitions, Denver-Aurora zone had 20.52 % fewer filings. Other areas with double-digit declines include the San Diego, Anaheim, and Portland metro areas.
The findings thus assure that slowly and steadily we are reaching full circle, from where we began. Fruitful times are returning, this time to stay!
Visit us at : www.FundFactor.com
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