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FBN’s Rich Edson on the decline in the number of small businesses filing for bankruptcy and efforts by lawmakers to help small business facing bankr...
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As the economy slowly recovers from a deep recession fewer small businesses are filing for bankruptcy.
New report by Equifax -- small business bankruptcies in the United States.
Dropped 36%.
In the first quarter of 2012.
Cents 2010.
The report also says western states especially some areas of California.
Show the greatest drop in bankruptcy rates although several of those areas still rank at the top of the bankruptcy filings and why.
For those businesses still facing bankruptcy in the Senate Judiciary Committee has approved a bipartisan bill's supporters say will make it more manageable for businesses to stay open.
And keep their workers the bill doubles the time businesses have to produce their plans to reorganize under bankruptcy.
And it now goes to the full senate for consideration.
Small Business Administration says the federal government has missed its mark again on small business.
Officials are supposed to -- 23% of its contract dollars to small businesses.
In 2011 fiscal year it was less than 22%.
Still small businesses were awarded contracts worth more than 91 billion dollars for fiscal year 2011.
It for this edition of the small business report.
I'm rich Edson Fox Business Network.
