Equifax Study Shows Drop in Small Business Bankruptcies for Fifth Consecutive Quarter
ATLANTA, Oct. 25 /PRNewswire/ -- Small business bankruptcy filings declined more than 11 percent in the third quarter of this year compared to a year ago and have decreased nearly 19 percent since their peak in Q2 2009, Equifax Inc. (NYSE: EFX) announced today. 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.
About Equifax (www.equifax.com)
Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.
With a strong heritage of innovation and leadership, Equifax continuously delivers innovative solutions with the highest integrity and reliability. Businesses - large and small - rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more. We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.
Headquartered in Atlanta, Georgia, Equifax Inc. operates in the U.S. and 14 other countries throughout North America, Latin America and Europe. Equifax is a member of Standard & Poor's (S&P) 500(R) Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.