One company shared the number of businesses that opened and closed over the course of five years, from 2016 to 2019, and it’s interesting to see the common trends that emerge in the number of businesses that either opened or closed during this time. SMBCompass analyzed U.S. Census Bureau data on the number of establishment births and deaths in metro areas across the country and plotted a chart with the results they found. One of the best years for businesses during this time was 2016 which had the largest number of small businesses open for many of the metro areas on the list, while the least number of businesses closed during this year. On the flip side, 2018 was the worst year for new businesses and had some of the lowest numbers across the board. As for the year that saw the most businesses close, that would be 2017 when the number of establishment deaths jumped up to be the largest amount for many of the metro areas. Do you remember an influx of businesses opening or closing during this time?
infographic by: www.smbcompass.com