Bankruptcies of small businesses are on the rise; Tax receipts from the federal government are declining.

by

Report Finds Chapter 11 Filings by Businesses Soar 61% So Far This Year

U.S. businesses faced significant challenges in 2023, with commercial Chapter 11 bankruptcies rising by 61% to 4,553. Small business filings increased by 41% to 1,419. Overall, commercial sector bankruptcy filings grew by 17% to 18,680. Consumer filings also saw a 17% hike, reaching 313,458, despite previous declines due to pandemic-era financial aid.

Uh-oh! It looks like you're using an ad blocker.

Our website relies on ads and the generous support of readers like you to keep delivering free, high-quality content. Right now, we are facing serious funding challenges and we need your help more than ever. Disable your ad blocker and this message will vanish. You can also sign up for a membership to enjoy an ad-free experience while supporting our work: https://citizenwatchreport.com/plans/subscriptions/ Your support helps us stay independent, continue our work, and keep content free for everyone. We truly appreciate your understanding and thank you for standing with us.