News came out today that business bankruptcies in Saint Louis have increased some 16% this quarter. This is apparently below the national average, but still a huge chunk of revenue and jobs going out the window.
I’ve spent some time over the last few weeks talking to business owners about their overall financial and economic situation. As expected, nearly every industry is down for the year. Overall, I’d put the average drop at right around 30%.
A 30% downturn in revenue can really hurt a business. One business was down over 50%. Ouch.
Click to continue »
