Factors Contributing to Lower Business Bankruptcies Rates in Arizona
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Factors Contributing to Arizona Business Bankruptcies
Over the past few years there have been trend towards lower number of bankruptcies of Arizona businesses. Since the year 2003 there has only been one year that the bankruptcy rate did not decrease, that year being 2005. A couple factors in Arizona contributed to this trend; a robust real estate market and an increase in consumer spending.
Business bankruptcies in Arizona were trending lower over the past few years, Table 1
Business Bankruptcies.
2003 2004 2005 2006
# Bankrupcies 701 480 525 261
% change (7.3) (31.5) 9.4 (50.1)
2004 saw an increase in bankruptcies of 9.4%, but the overall trend is that business bankruptcies in Arizona have continued to trend lower.
One factor is the strong real estate market. Home sales and average price increased over this time period.Table 2
Homes sales
2003 2004 2005 2006
Homes sales 80,052 98,922......
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