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State of small business special report recession-ravaged cities

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The federal government declared the recession …

The federal government declared the recession
of 2008 officially over in June of 2009. Four years
later, where do we stand? We evaluated the cities
hardest hit by the recession, as defined by the
Brookings Institute Metro Monitor, which assesses cities on employment, unemployment, output
(GDP), and house prices. We then used Radius to
learn more about the businesses that sunk the
lowest in 2008.

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  • 1. October, 2013 state of small businesses special report: Recession-Ravaged Cities
  • 2. the data Radius has amassed an unmatched amount of data that documents the existence and activities of over 26 million small and medium sized U.S. businesses. By collecting and organizing local information from across the Web, Radius offers comprehensive insights derived from billions of pieces of information. The result is the only living, breathing data set representative of the small business economy in the U.S. the most recession-ravaged metros in the u.s. 01. Cape Coral/Ft. Myers, FL 02. New Orleans, LA 03. Detroit, MI 04. Las Vegas, NV 05. Sarasota, FL 06. Stockton, CA 07. Riverside, CA 08. Phoenix, AZ 09. Tampa, FL 10. Sacramento, CA
  • 3. the report The federal government declared the recession of 2008 officially over in June of 2009. Four years later, where do we stand? We evaluated the cities hardest hit by the recession, as defined by the Brookings Institute Metro Monitor, which assess- es cities on employment, unemployment, output (GDP), and house prices. We then used Radius to learn more about the businesses that sunk the lowest in 2008. there are 1,775,435businesses within recession-ravaged metros. 1-4 5-9 10-19 20-49 50-99 100+ size of businesses in recession-ravaged metros: 1-4: 56.5% 5-9: 19.6% 10-19: 11.3% 20-49: 7.9% 50-99: 2.5% 100+: 2.2%
  • 4. web-savvy metro rankings 01 Austin, TX 02 McAllen, TX 03 San Diego, CA 04 Grand Rapids, MI 05 Kansas City, MO-KS 06 Portland, OR-WA 07 Louisville, KY-IN 08 San Jose, CA 09 Lakeland, FL 10 Worcester, MA 11 Palm Bay, FL 12 Denver, CO 13 Oklahoma City, OK 14 Modesto, CA 15 Tampa, FL 16 Sacramento, CA 17 Cleveland, OH 18 Tucson, AZ 19 Tulsa, OK 20 Dallas, TX 21 Orlando, FL 22 Stockton, CA 23 Minneapolis, MN-WI 24 Columbus, OH 25 Provo, UT 26 Akron, OH 27 Greensboro, NC 28 Las Vegas, NV 29 Lancaster, PA 30 San Francisco, CA 31 San Antonio, TX 32 Seattle, WA 33 Memphis, TN-MS-AR 34 Fresno, CA 35 Washington, DC-VA-MD-WV 36 Miami, FL 37 Philadelphia, PA-NJ-DE-MD 38 Greenville, SC 39 Bakersfield, CA 40 Oxnard, CA 41 Buffalo, NY 42 Baltimore, MD 43 Chicago, IL-IN-WI 44 Des Moines, IA 45 Charlotte, NC-SC 46 Riverside, CA 47 Nashville, TN 48 Houston, TX 49 St. Louis, MO-IL 50 Bridgeport, CT 51 Wichita, KS 52 Salt Lake City, UT 53 Knoxville, TN 54 Hartford, CT 55 Providence, RI-MA 56 Pittsburgh, PA 57 Sarasota, FL 58 Ogden, UT 59 Los Angeles, CA 60 New Orleans, LA 61 Phoenix, AZ 62 Indianapolis, IN 63 Atlanta, GA 64 New Haven, CT 65 Albuquerque, NM 66 Poughkeepsie, NY 67 Dayton, OH 68 Boston, MA-NH 69 Harrisburg, PA 70 Milwaukee, WI 71 Toledo, OH 72 Birmingham, AL 73 Chattanooga, TN-GA 74 Springfield, MA 75 Little Rock, AR 76 Raleigh-Durham, NC 77 Cincinnati, OH-KY-IN 78 Albany, NY 79 Rochester, NY 80 Colorado Springs, CO 81 Jacksonville, FL 82 Baton Rouge, LA 83 Virginia Beach, VA-NC 84 Omaha, NE-IA 85 Syracuse, NY 86 Columbia, SC 87 Richmond, VA 88 Detroit, MI 89 Boise City, ID 90 Jackson, MS 91 Charleston, SC 92 Youngstown, OH-PA 93 Augusta, GA-SC 94 Allentown, PA-NJ 95 Honolulu, HI 96 Madison, WI 97 Scranton, PA 98 New York, NY-NJ-PA 99 El Paso, TX 100 Cape Coral, FL web-savviness in the united states The Radius web-savvy metro rankings list major U.S. metro areas by the likelihood of their small businesses to maintain websites, Facebook pages, and Twitter handles. 01-20 21-40 41-60 61-80 81-100web-savvy rank:
  • 5. the most recession-ravaged metros (declined most from economic peak before recession to lowest point of recession) 01. Cape Coral/Ft. Myers, FL 02. New Orleans, LA 03. Detroit, MI 04. Las Vegas, NV 05. Sarasota, FL 06. Stockton, CA 07. Riverside, CA 08. Phoenix, AZ 09. Tampa Bay, FL 10. Sacramento, CA 100 60 88 28 57 22 46 61 15 16 the most thriving metros (improved most from the economic peak before recession to now) 01. Austin, TX 02. Houston, TX 03. Dallas, TX 04. Oklahoma City, OK 05. San Antonio, TX 06. Nashville, TN 07. El Paso TX 08. San Jose, CA 09. Omaha, NE 10. Boston, MA 01 48 20 13 31 47 99 80 84 68 average social savvy rank: 49 average social savvy rank: 40 most declined most thriving web savvy rankweb savvy rank how social media affects success A number of metro areas were hit hardest by the recession in 2008, and while a number of those regions have climbed back out of recession, a number of others are still struggling. The web-savvy business ranks in recession-ravaged areas average at nearly half the average rank for areas that have performed well, economically, in the face of the recession.
  • 6. the most recovered metros (most recovered from lowest point of recession to now) 01. San Jose, CA 02. New Orleans, LA 03. Phoenix, AZ 04. Grand Rapids, MI 05. Bakersfield, CA 06. Boise City, ID 07. Detroit, MI 08. Austin, TX 09. Portland, OR 10. Houston, TX 08 60 61 04 39 89 88 01 06 48 the least recovered metros (least recovered from lowest point of recession to now) 01. Allentown, PA 02. Harrisburg, PA 03. Philadelphia, PA 04. Syracuse, NY 05. Albuquerque, NM 06. Jackson, MS 07. Little Rock, AR 08. Albany, NY 09. Buffalo, NY 10. Poughkeepsie, NY 94 69 37 85 65 90 75 78 41 66 average social savvy rank: 40 average social savvy rank: 70 the best off vs. the worst off most thriving metro area: Austin, TX the most web-savvy metro area: Austin, TX the most recovered metro area: San Jose, CA most recession-ravaged metro area: Cape Coral, FL the least recovered metro area: Allentown, PA the least web-savvy metro area: Cape Coral, FL most recovered least recovered web savvy rankweb savvy rank
  • 7. conclusion Our research into recession-ravaged cities exposed us to a side of the social media story that’s unfolding across America’s businesses: the impact that social technology may have on busi- ness success. As we explore the impact of web-adoption on businesses, we look to a new set of questions about the viability of business- es. Can adoption of social media indicate resis- tance to recession? Does web-savviness indicate growth potential? Does enthusiasm for social media spread in regional patterns? Why do certain industries adopt web technology faster than others? Are businesses web-savvy because they’re successful, or are businesses successful because they’re web-savvy? contact Let’s set up a chat for 10 minutes. We’d love to help. 1.855.RADIUS-0 info@radiusintel.com about us Identifying and engaging with the right local businesses can be overwhelming due to the disorganized — and often contradictory— nature of local business information. Radius Intelligence has amassed unmatched data that documents the existence and activities of over 20 million small and medium-sized U.S. businesses. Using Radius, businesses are empowered to prospect smarter and accelerate sales. 140 2nd Street Ste. 300 San Francisco, CA 94105 radius.com