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Nearly 900 Hawai‘i businesses lost during the worst of the economic downturn

August 2, 2012
The Maui Weekly

Pacific Business News - Hawai'i's four largest markets lost nearly 900 small businesses during 2008 and 2009, according to an analysis of newly released federal data.

There were 32,073 small businesses in the Honolulu, Hilo, Kahului-Wailuku and Kapa'a markets at the start of 2008, a figure that dropped to 31,203 two years later, according to the analysis of census data by On Numbers, an affiliate of Pacific Business News.

The bulk of those small businesses are on O'ahu. Honolulu lost 385 small businesses, or 2 percent of its total, between 2008 and 2010.

The Hilo market had 209 fewer small businesses in 2010 than it did in 2008, which was 5 percent of its market, and the Kahului-Wailuku market on Maui lost 220 small businesses, also 5 percent of the market.

Kaua'i lost 56 small businesses during that period, or 2 percent.

Nationally, more than 170,000 small businesses were lost during that period, according to the On Numbers analysis.



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