The Secretary of the State’s office announced today that a record number of businesses have folded in Connecticut during the first quarter of 2008.
Nearly 2,800 businesses have closed between January and March, Secretary of the State Susan Bysiewicz said. She said it’s the highest number of business closings for a first quarter since at least 2000.
The number of business openings in the January-March period, nearly 7,800, also is the fewest in five years.
Bysiewicz called for the elimination of the business entity tax as part of a cure, but this smacks of something that has more to do with national and world trends than anything state government is or isn’t doing. Not good news, any way you slice it.
Source
“State reports record number of businesses closing so far in ‘08.” Associated Press 2 April, 2008.
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