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Small biz bankruptcy declines

 

Small business bankruptcy filings declined more than 11% in the third quarter of this year compared to a year ago and have decreased nearly 19% since their peak in Q2 2009, Equifax Inc. (NYSE: EFX) announced.  The decrease is the fifth consecutive quarter in which commercial bankruptcies have declined based on data from the company’s quarterly research on small business activity.

Analysis from the Equifax study shows that the number of small business bankruptcy filings peaked at 37,299 during Q2 2009, compared to 30,392 during Q3 2010.  There were 34,257 bankruptcies in Q3 2009.

“For more than a year, we have seen a decline in the number of small business bankruptcies but this is the biggest percentage decrease during that period,” said Dr. Reza Barazesh, senior vice president, Equifax Commercial Information Solutions.  ”Small businesses are still having a tough time.  But the numbers are beginning to indicate that some of the stresses may be abating.”

For its quarterly study, Equifax analyzes Chapter 7, 11, and 13 filings as well as its data on the more than 24 million small businesses in the U.S.  The company considers commercial enterprises with 100 employees or less as a small business.


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