Experian has released an update to the Business Information Map for Q3 2014. The map offers a state and metro level view of business credit conditions throughout the United States.
Looking at Business Credit Risk Scores at a state level, we can see that the eastern part of the country from Kentucky down through Florida is colored in a deep orange indicating heightened risk while the Pacific Northwest enjoys higher risk scores.
Diving into the metro statistical level, we can see Miami, Fort Lauderdale and Orlando continue to struggle in addition to Atlanta and Memphis where business risk scores are between 8 and 10 points below the national average of 61.34. The northeast and northwest are thriving with strong risk scores driven by construction, manufacturing and real estate.
Switching to an industry view, focusing on real estate and construction we can see clusters of opportunity in the northeast where strong demand for housing is driving recovery. But to the south, Miami, Fort Lauderdale and Jacksonville, Florida and Memphis, Tennessee risk scores in real estate hover in the mid-40's.
Switching to a year over year view we can see some good things happening, particularly in real estate and construction. Detroit, Michigan has risk scores among the top 5 in the nation, bueyed by an influx of startup businesses. Detroit has improved small business bill payment by over 33 percent, paying bills 7.56 days beyond contract terms, down from 11.3 days. Detroit has also reduced the delinquency rate by 24 percent and kept bankruptcies low.
To find out if your city is a top performer - explore the Business Information Map at experian.com/ibim.