Business bankruptcies more than double p1 - Military - Start Your Own Business - Military Times Edge

Commercial bankruptcies are surging. Fewer people are starting small businesses, and firms already open are struggling under changing consumer habits, a lack of funding options and tougher bankruptcy laws. If a nationwide trend seen since January holds true, more than 300 businesses will file for bankruptcy — today alone.

The first five months of this year have shown a 52 percent increase in the total number of commercial bankruptcy filings (to 36,106) compared with the same period last year (23,829), according to Automated Access to Court Electronic Records, a provider of bankruptcy data. On average so far in 2009, some 350 commercial enterprises have filed for bankruptcy daily — an increase of 240 percent from 2006.

The transportation industry, which includes the auto and airline businesses, has seen the biggest run-up in small-business bankruptcy filings, according to new data from an Equifax bankruptcy study. After transportation, the construction, manufacturing and retail industries are the major filers, the study says.