Small business 2009: success and failure

Published online: Jan 01, 2010 News
Viewed 347 time(s)

This year was challenging, to say the least, for many U.S. small businesses. However, while many floundered, there were some that managed to thrive in 2009.

The New York Times reports that some businesses were helped this year by the Export-Import Bank, the official American export credit agency, which guarantees loans and provides insurance and direct loans.

The bank, which has seven regional offices to help small businesses export goods and services, authorized $4.36 billion in 2,540 transactions to support small business exports in fiscal year 2009.

Click here for an article about small businesses that grew in 2009.

But for many companies, 2009 marked an end, as they could not pull through the "worst year for small business since the Great Depression," according to Mark Zandi, chief economist of Moody's Economy.com.

According to the Bureau of Labor Statistics, more than 400,000 businesses with fewer than 100 employees ceased operations, eliminating 1 million jobs, The New York Times reports.

Click here for an article profiling seven small businesses that did not survive and why.

You May Also Be Interested In...

March 25, 2015

Restored To Her Glory

If you’re interested in restoration stories, you don’t want to miss this one—which involves a little history lesson to boot.
March 19, 2015

Why You Should Keep Your Smoke Alarms Up To Date

If you want to hear a good argument for keeping your smoke alarms up to date onboard, check out this man’s story according to Cambridge News.
March 11, 2015

Unmanned Houseboat Drifts 165 Miles

You’ve heard of runaway dogs, but have you ever heard of a runaway houseboat?
March 04, 2015

Lake Norris Update: Twin Cove Marina Is Seeing Great Progress

In an admiral show of resilience and dedication, the heavy winter damage at Twin Cove Marina, Carryville, Tenn., is already being tackled by cleanup crews.
February 24, 2015

Norris Lake Boats Suffer Severe Winter Damage

We have sad news—several boats and docks collapsed under the fury of a winter storm in the Norris Lake, Campbell County, Tenn., area this Saturday.
February 18, 2015

Houseboating Opportunities In India

The Times of India brings word that the District Tourism Promotion Council (DTPC) is investigating the possibilities of promoting houseboating in Kochi,a major port city...
Follow us on Facebook!   Follow us on Instagram!   Follow us on Pinterest!   Follow us on YouTube!