Memphis makes list of 'Small Business Trouble Spots'

Memphis was identified as one of a group of "Small Business Trouble Spots" in a study reported over the weekend in The Wall Street Journal's In Charge blog. The study found that between 2006 and 2008, New Orleans lost 5 percent of its small businesses (perhaps due to post-Katrina outflow of people and money) and Cleveland lost 4 percent. Memphis was among a group of cities that lost 3 percent of small firms. It might get worse, too:

Research has shown that the smallest firms - those just starting up - tend to drive job creation. But the recession bucked that trend as many small firms shuttered or shed staff to keep the business afloat.

This data, which ends at 2008, doesn't show the full impact of the recession. The number of business bankruptcies rose each year from 2006 to 2009, according to the American Bankruptcy Institute, and remained high in 2010. That means that businesses continued to shutter during those years, possibly pushing the percentage losses in U.S. cities even higher.


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Deputy Online News Editor Mark Richens takes you through all the news about Memphis from sources outside the Mid-South.