The National Association of Realtors (NAR) conducts a quarterly survey of NAR’s commercial members to monitor local economic conditions as reflected through businesses opening or closing. The most recent 2nd quarter 2017 survey was published and results indicate continued positive business creation. Approximately 53% of the survey respondents indicated they had seen an increase in business openings in June 2017. Industries leading the way with ratings for business openings were noted as Food/Beverage (61%) and Retail (58%). Interestingly, these same two industries are also at the top of the ratings for businesses closing with Retail at 35% and Food/Beverage at 20% and are well above other closing industries such as Real Estate at 9% and Office at 7%. Approximately 66% of the respondents in the West North Central Region of the US reported businesses opening with most other regions responding at 49% to 60%. The exception is the East North Central Region indicating only 38% as rating businesses opening.
The Business Creation Index is provided by the National Association of Realtors Research Department and can be found on-line at the link below.