In that spirit, here are the stories of six small businesses that closed their doors in 2010. A personal finance Web site based in San Francisco. Wesabe opened in 2006 and closed in July. AT ITS PEAK Wesabe was one of the first movers in the Web 2.0 financial space.
Who are the companies that have gone out of business?
Based in Edgerton, Wis., the company printed advertisements on the side panels of trucks. It opened in 1998 and closed in March. AT ITS PEAK In 2006, business took off, growing about 60 percent a year until 2008. In 2007, sales were $3 million and the company had 15 employees.
How many companies did not survive in 2009?
In 2009, the loss was 400,000 companies. Numbers, however, do not tell the whole story. Behind every one of those small businesses that failed was an entrepreneur with an idea and a dream. “It was very painful,” said one of those owners, Elizabeth Kavanaugh, whose 12-year-old business, Large Format Digital, closed in March.
How many small business owners will make it to the end of the year?
In fact, “if economic trends continue at this rate, one in five business owners anticipates they won’t make it until the end of the year,” Kevin Kuhlman, the vice president of federal government relations for the National Federation of Independent Business (NFIB), a nonprofit small-business advocacy group, recently told Fortune.
Are there any American businesses that have failed?
Given its prolific status in the United States, it seems almost inconceivable that Starbucks would not be a crowd-pleaser wherever it opened its doors. But that was just the case in Australia, where the BBC said the “coffee juggernaut” could not compete with “local stores’ homespun hospitality and boutique qualities.”
What was the net loss of companies in 2010?
In the first quarter of 2010, for example the most recent period for which the data are available there was a net loss of 96,000 companies with fewer than 100 employees, according to the Bureau of Labor Statistics. In 2009, the loss was 400,000 companies.
