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223K Small Businesses Shut Down In 2008-10

From Fox News:

Economy lost more than 200,000 small businesses in recession, Census shows

July 26, 2012

More than 200,000 small businesses vanished between early 2008 and 2010 — a period covering the Great Recession and its immediate aftermath — taking with them in excess of 3 million jobs, according to Census figures which illustrate the depth of the country’s economic hole.

Data is only available until 2010, but the U.S. Census Bureau stats reveal a startling slide for America’s businesses. While the country boasted 5.14 million firms with up to 99 employees as of March 2008, that number dropped to 4.92 million by March 2010 – representing a loss of roughly 223,800 businesses and 3.1 million workers.

All of which just goes to show that we don’t need to parse what Obama said in Roanoke to figure out what he feels about businesses. We have seen what he has done to them, and we know what he wants to do to them, with higher taxes and more regulations.

The Obama administration notes that the trend has since reversed, and that the country has seen 28 consecutive months of private-sector job growth…

What a laugh. How many small businesses have opening under Obama?

A definitive figure on how many small businesses closed during the recession is hard to come by. While the recession technically started in December 2007 and ended in June 2009, the Census figures only count the number of businesses starting in March of each year. If one looks at the stretch between March 2007 and March 2010, the loss of businesses with 99 workers or fewer is even more pronounced — with a loss of 273,316 firms

Lest we forget, the Democrats took control of Congress in January 2007, after having won the 2006 midterm elections by telling us that we were in a recession.

And the rest is history.

This article was posted by Steve on Friday, July 27th, 2012. Comments are currently closed.

3 Responses to “223K Small Businesses Shut Down In 2008-10”

  1. Rusty Shackleford says:

    Well, maybe Nixon wasn’t so much of a crook as Americans thought he was.

    But Obama is.

  2. GetBackJack says:

    Small business is easier to loot than big business.

    Big Business loves Bg Government.

    Do Not Forget That

    • JohnMG says:

      Most big business can afford to “pay-to-play”. Most small businessmen wouldn’t, even if they could. It’s a matter of principle.

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