Experian has released an update to the Business Information Map for Q2 2014. We summarize our Q2 findings for the bankruptcy category in the below video.
The Experian Business Information Map offers a state and metro level view of business credit conditions in the United States.
Small business bankruptcy rates have seen a 5 percent decrease since Q1 overall, but some metro areas, particularly California, have elevated bankruptcy. Sacramento, Bakersfield, Stockton and San Bernardino all have bankruptcy well above the national average, while on the east coast, Rochester, New York has a bankruptcy rate of 1.97 percent, and that's down 1.52 percent from 2 percent in Q1.
Looking at bankruptcy from an industry perspective California appears to have a number of under performing metro areas. In construction, 5 out of 5 of the bottom performing metro areas are in California. Agriculture has 4 out of 5 California metros as does the real estate industry.
Looking at the bankruptcy rate year over year, we can see an improving picture overall, with some pockets of heightened bankruptcy emerging on the east coast in Rochester, NY, Knoxville, TN and New Orleans, LA. In neighboring Baton Rouge, the bankruptcy rate is 3rd best in the country.
To find out if your city is a top performer - explore the Business Information Map at experian.com/ibim.
Experian is hosting the Quarterly Business Credit Review on September 4th at 10:00 a.m. (PST / 1:00 p.m. (EST) - Please join us for insights into Q2 small business credit trends - Click Here to register.