How Are Businesses Doing During the Recession in Orange County, CA

You have to ask yourself how businesses are doing during the recession in Orange County, CA. There are plenty of indications out there as you walk or ride around the county. Foreclosures, unemployment and bankruptcies were the all to familiar results of the economic turn down. Since the consumer's are fearful of the economic climate, they have become frugal. They fear being laid off or getting their home foreclosed on, or having pay cuts.




If you want to know how businesses are doing in Orange County, CA.we should look at the restaurants. They report that the number of folks coming to eat has drooped since late 2007. It got worse in 2008 as chains began closing stores because of the drop in sales. National Restaurant Association it has been 21 months of below average meals being served. Some local restaurants and or outlets failing during that period are Starbucks, KFC, Charo Chicken, and Black Angus to name a few.



Another place to look to see how businesses are doing in Orange County, CA would be small businesses. What we find is that many have lost their lines of credit or even get credit. This effects there ability to pay bills, expand, or just stay aflot.



Automotive sales were slipping until cash for clunkers off about 40%.



If we look at the retail business to see how businesses are doing in Orange County, CA it would not be good. A large number of retailers closed their stores and/orfiled for Chapter 11 bankruptcy protection, and several of those eventually went out of business.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

www.markandtim.com

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