LUBBOCK, TX (KCBD) - Lubbock has so far bucked a striking national trend of increased small business bankruptcies. The Equifax credit rating bureau released a study late last week. It shows Lubbock is among 15 metropolitan areas with the fewest small business bankruptcy filings in the first quarter of 2010. Amarillo made the same list.
Nationwide there are 24 million small businesses and most Americans are in fact employed by small businesses not large corporations. Equifax says in part, "Small businesses in all regions continue to experience the impact of today's economic conditions." By the way, Equifax defines small business a commercial entity with less than 100 employees.
Equifax says all of the following MSA's had 12 bankruptcies or less during Q1 2010:
-- Hagerstown-Martinsburg, MD-WV -- Gainesville, FL -- Charleston, WV -- Lafayette, LA -- Pensacola-Ferry Pass-Brent, FL -- Baton Rouge, LA -- Ann Arbor, MI -- South Bend-Mishawaka, IN-MI -- Amarillo, TX -- Lubbock, TX -- Columbus, GA-AL -- Binghamton, NY -- Fort Smith, AR-OK -- Alaska - Rest of State -- Lynchburg, VA