The credit rating agency Equifax is out with a report on small-business bankruptcies nationwide; itâ€™s a good opportunity to take a look at some of the stories behind business insolvencies in your market.
According to the Equifax analysis, 36 percent fewer small businesses filed for protection in the first quarter of 2012 compared to the same period in 2010, with western states faring especially well. Equifax predicts a continued decline; hereâ€™s a link to a PDF showing the actual number of filings in metropolitan statistical areas, along with a ranking relative to other communities.
The numbers in most cases are low enough that you could easily track down and tell meaningful stories about most small-businesses bankruptcies in your market, or at least a good cross-section of them. The Equifax report pertains to Q1, but you could do a manual search for second-quarter filings as well, to update the trend.