Economic Recovery Forecast for Small Businesses

A WSJ story featuring our president, Raymond Greenhill, discussing impacts and forecasts on small businesses during our current downturn. From Small Businesses Brace for Prolonged Crisis, Short on Cash and Customers

An estimated 1.85 million U.S. businesses closed their doors or temporarily suspended operations in the second quarter, according to Oxxford Information Technology Ltd. in Saratoga, N.Y., which tracks roughly 32 million U.S. businesses of all sizes using data from credit bureaus, surveys and government sources.

Raymond Greenhill, Oxxford’s president, forecasts that total losses this year will be greater than in the last recession, when 20%, or roughly 4.5 million businesses, disappeared in just over a year. He added that some of the losses will be offset by new business formation.