Lack of information on a key small business statistic
May 4, 2009
Filed under From the Editors
Polaris Industries recently said it expects to lose less than 5 percent of its dealers this year as a result of the economic downturn. It was really the first official notification I've seen that relates to powersports dealership closures or bankruptcies. Oh sure, we do hear about such closings here and there through our contacts but rarely is there an official number or even percentage given out.
We have tried to correct that. But our reporting efforts with the federal government or companies that process bankruptcies have been a wild goose chase so far. The reason: Companies that file for bankruptcy indicate whether it's a business or individual filing, but do not provide industry-specific data. An official with a prominent bankruptcy-processing company told me there is "simply no reliable way to get that data."
Isn't that crazy?
In today's technology-crazed society, we can't tell accurately tell how many small businesses are closing up shop in a specific industry.
What a shame.
By the way, curious how closures have impacted your business. What type of dealership - metric, European, V-twin? - has closed down in your area?