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Colorado business bankruptcy filings surged 60 percent in the first half of 2009, according to data from the U.S. Bankruptcy Court.
A total of 639 business-related bankruptcy filings were made between January and June, up from 399 in the same period of 2008.
Small Business Impact on the Economy
The estimated 27.2 million small businesses in the United States:
* Employ about half of the country’s private sector workforce
* Hire 40 percent of high tech workers, such as scientists, engineers and computer workers
* Include 52 percent home-based businesses and two percent franchises
* Represent 97.3 percent of all the exporters of goods
* Represent 99.7 percent of all employer firms
* Generate a majority of the innovations that come from United States companies
Source: U.S. Small Business Administration Office of Advocacy, September 2008