The goal of SmallBusinessNewz is not to bum you out. And on the bright side, since you're reading SmallBusinessNewz, we're thinking (and hoping) this hasn't affected you. But a new report states that bankruptcies are on the rise.
John Tozzi writes, "The numbers show a 49% increase in commercial bankruptcies over last year, with an average of 235 daily filings last month compared to 158 in April, 2007, according to data compiled by Jupiter eSources . . . . More than 5,000 firms filed for bankruptcy in April, 2008, the most in any month since the new [bankruptcy] laws took effect in 2005."
It's hard to spin this in a positive way. Perhaps some of the bankrupt businesses are evil corporations, and the good guys will find ways to get back on their feet. The opposite could just as easily be true, though, and smaller companies might even be shutting down without declaring bankruptcy and influencing these statistics.
Also, the recession, inflationary period, or whatever we're experiencing is still in effect, so May could be a worse month.
Since we've already covered all sorts of money-saving tips, here's a less-relevant piece of advice: go watch "The Andy Griffith Show" or something to balance all this out with simpler times and happier moods.
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Businesses closing
Unfortunately for America alot of small businesses are closing their doors forever. With the economy in the dumpster and fuel prices choking the entire country,the small business person cannot compete with the "big box" stores in keeping the overhead low. Until the economy rebounds? small businesses should look into co-op buying and advertising to try and ride out the storm.
Another way to get some cash in the register, is to walk back to the storeroom or warehouse and sell all that dead-stock merchandise you have been holding onto since the advent of the hula-hoop. Think of all the $ just sitting there.
http://www.sellmyinventory.com
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