New York Tops List of Cities with Optimal Business Health
by Joel R. Glucksman on October 1, 2013
Some municipalities are faring better than others in the health and vitality of their businesses and consumer spending. A telling sign for the overall business health of improving cities is often the viability of the local economy. Along these lines, a new report reveals which U.S. cities are on their way to full recovery and which may be left behind.
Experian recently released its Metro Business Pulse, an analysis that ranks the top metropolitan statistical areas in four key business credit categories: Municipal bankruptcy rates, the number of days businesses pay their bills beyond contracted terms, delinquency rates, and commercial risk scores. According to the results, New York City had the lowest business bankruptcy rate at 0.28 percent, followed by Nassau, NY at 31 percent and Baton Rouge, LA at 34 percent.
By contrast, companies in Sacramento, CA filed the highest number of bankruptcies during the second quarter of 2013, with 2.41 percent petitioning for relief under Chapter 7 or Chapter 11 of the bankruptcy law. Bakersfield and Riverside, CA placed second and third on the list of bottom five metropolitan areas with high business bankruptcy figures at 2.16 and 1.90 percent, respectively.
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