Small businesses across the United States are experiencing a surge in bankruptcies, surpassing levels not seen since 2020, and, according to a UBS note reviewed by The Epoch Times, conditions could become worse as the ripple effects from the recent banking crises begin to manifest.
The note from the UBS Evidence Lab shows private bankruptcy filings in 2023 have exceeded the highest point recorded during the early stages of the COVID-19 pandemic by a considerable amount. The four-week moving average for private filings in late February was 73 percent higher than in June 2020.
