Hello Los Angeles Small Business Owners and Entrepreneurs,

the latest data shows small-business bankruptcies up 81% in the state of California for the 12 months ended Sept. 30, compared with the previous year. Filings nationwide were up 44%, according to the credit analysis from Equifax Inc.

The actual number of small businesses in trouble is probably higher, experts said, because many owners file for personal bankruptcy rather than seek protection for the business.

Over the last year, the Los Angeles, Riverside/San Bernardino and Sacramento metropolitan areas have led the nation in small-business bankruptcy filings, said Tim Klein, a spokesman for Equifax.

About 19,000 small businesses filed for bankruptcy in California during the 12 months ended Sept. 2009, up from 10,500 the previous year.

During September alone, 2,229 small businesses filed for protection, up from 1,503 filings in September 2008, the firm reported.

The small business sector is feeling the damage of the recent recession. As the economy stagnates small business bankruptcies will continue to rise. Many businesses are closing because of the lack of access to capital in order to continue financing operations. In order to offset this future effect additional financing is greatly needed.

If you are interested in finding additional Los Angeles County small business resources, events, or filing your new Los Angeles County Fictitious Business Name/DBA, visit the Premier Los Angeles County Small Business Resource website www.LABusinessConnect.com. This website is dedicated to assisting Los Angeles County entrepreneurs and small business owners find answers to opening and operating their business locally.