Bankruptcy Lawyer Gunnison Utah

bankruptcy attorney Gunnison Utah

Percentage of businesses that went bankrupt

The percentage of businesses that went bankrupt was about 50% in Britain, 25% in the United States, and as low as 10% in Japan.

Small businesses

Less than a year

Small businesses that have been in business for less than a year have a 1.5% chance of going bankrupt. Number of small businesses that went bankrupt: 400,000

Less than three years

Small businesses that have existed for less than three years have a 3.7% chance of going bankrupt. Number of small businesses that went bankrupt: 121,000

Between one and three years

Small businesses that have been in business for between one and three years have a 4.4% chance of going bankrupt. Number of small businesses that went bankrupt: 235,000

Between three and five years

Small businesses that have been in business for between three and five years have a 5.4% chance of going
bankrupt. Number of small businesses that went bankrupt: 181,000

More than five years

Small businesses that have been in business for more than five years have an 8% chance of going bankrupt. Number of small businesses that went bankrupt: 354,000

In summary, the chances of any one business going bankrupt are 0.6%.

Compared to the rest of the population, small business owners are especially likely to file for bankruptcy. If you’re considering starting a business, you should be aware that this significant risk is part of the deal, but there are steps you can take to minimize it.

In the United States alone, small businesses are closing up at an alarming rate. One study reports that about half of all businesses fail within the first five years. According to a recent census study, about 75 percent go under within fifteen years.

If you have any questions, you can get a free consultation with the Best Attorneys in Utah.

Ascent Law LLC:
8833 South Redwood RoadSuite C
West Jordan, UT 84088
(801) 676-5506
https://g.page/ascentlaw?share
https://www.ascentlawfirm.com/bankruptcy-lawyer/

WE HAVE THE BEST LAWYERS IN UTAH

When you need a Bankruptcy Lawyer, contact this law firm:

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States

Telephone: (801) 676-5506
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Gunnison, Utah

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Gunnison, Utah
Looking south down Gunnison's Main Street (US-89), June 2005

Looking south down Gunnison’s Main Street (US-89), June 2005
Location in Sanpete County and the state of Utah.

Location in Sanpete County and the state of Utah.
Coordinates: 39°9′19″N 111°49′6″WCoordinates39°9′19″N 111°49′6″W
Country United States
State Utah
County Sanpete
Founded 1859
Named for John Williams Gunnison
Area

 • Total 4.79 sq mi (12.40 km2)
 • Land 4.79 sq mi (12.40 km2)
 • Water 0.00 sq mi (0.00 km2)
Elevation

5,138 ft (1,566 m)
Population

 (2020)
 • Total 3,509
 • Density 732.57/sq mi (282.85/km2)
Time zone UTC-7 (Mountain (MST))
 • Summer (DST) UTC-6 (MDT)
ZIP code
84634
Area code 435
FIPS code 49-32660[3]
GNIS feature ID 1428432[2]
Website Official website

Gunnison is a city in the Sevier Valley in southwestern Sanpete CountyUtah, United States. The population was 3,509 at the 2020 census. The city was named in honor of John W. Gunnison, a United States Army officer who surveyed for the transcontinental railroad in 1853.[4]

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