Finding Closed Businesses with Targetron

There are two different types of closed local businesses: temporary and permanent. Temporary closed businesses are closed for a short time, like for renovations or holidays. You can usually find out if a local business is temporarily closed by contacting them or looking on their website or social media. Permanent closed local businesses are closed forever.

Many individuals are interested in acquiring businesses that have closed down. Many businesses are waiting to be sold due to the closure. Sometimes, it can be due to death, job quitting, or retirement. Over the next 20 years, it is estimated that tens of thousands of older businesses in the US will close or be taken over. This presents a significant commercial opportunity for those interested in taking over these businesses. For those interested in small and mid-size local businesses, it is important to track these closed businesses.

Some people choose to leverage the benefits of the digital world to modernize and transform traditional businesses. This can bring the business to an entirely new level. These entrepreneurs are looking for businesses that are closing down to buy.

Furthermore, some people are interested in acquiring goods and products from closed businesses. This can be a profitable venture for these individuals, as they can acquire the products at a reduced cost and resell them for a profit. It is interesting to identify businesses that are closing for many different reasons. But the main thing is to find these businesses.

Insights into US Business Statistics

The United States is often called the land of opportunity when it comes to business ownership, with data from the World Bank suggesting that 91.6 out of 100 entrepreneurs prefer the US to start a new business. With this data, it is interesting to note that for every business that closes, there’s an aspiring entrepreneur ready to take its place.

Here’s some Significant Statistics on US Businesses

1. In 2022, the US Chamber of Commerce reported approximately 33.2 million small businesses nationwide. The US economy has seen a recovery, and new businesses have begun to take shape after the COVID-19 pandemic that saw several businesses closing down.
2. The Commerce Institute, citing data from the US Census Bureau, reported that 5,044,748 new businesses were formed in 2022.
3. From 2019 to 2022, roughly 4.5 million businesses were started annually in the US. In 2023, an average of around 429K businesses opened every month.
4. The US Chamber of Commerce reports that around 595K businesses close yearly.
5. Wall Street Journal’s data shows that 200,000 US establishments went into closure during the pandemic.
6. The Chamber of Commerce also sheds light on the number of businesses struggling during their first year of operations. They note that nearly 20% of the new businesses close within their first year, and just 34.5% find staying power and can survive ten years.
7. The Small Business Administration reported that 70% of businesses will survive their second year, and only 50% will still be operational in their fifth year.