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BizReport : Ecommerce archives : October 28, 2013

Which US states are bouncing back fastest?

Since the 2008 recession, many small businesses have closed their doors permanently, but over the past two years more SMBs are opening their doors, expanding their operations base and putting in a strong effort to grow their brand.

by Kristina Knight

According to new data out from CallFire, the US states showing the strongest or fastest recession bounce-back include Arizona, California and Nevada. The states making the slowest come-back include North and South Dakota, West Virginia and Iowa.

It may seem strange that North Dakota and West Virginia are on the 'slow' side, but the report notes that while both states have shown strong economic growth because of the shale oil/gas and mining booms, much of that profit margin is to big businesses not SMBs.

"Local phone number purchases serve as a proxy for small business economic activity, making it easy for us to tell which states are truly bouncing back," said Dinesh Ravishanker, CallFire CEO. "Small businesses typically purchase phone numbers to track marketing spending and our data shows which states are aiming for high-growth, not maintenance of the status quo, one of the primary stats also tracked by the NFIB."

Other interesting findings include:

• Arizona, Florida, Nevada and California were hardest hit by the housing bubble
• Those states are also making the strongest post-Lehman come-back
• Washington State showed strong growth due to information services increases

Researchers with CallFire analyzed local phone numbers purchased in the US, except Alaska and Hawaii, to come to their results.

Image via Shutterstock

Tags: CallFire, post-Lehman economy, small business, small business trends, SMB trends

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