In the first half of 2025, business owners may have felt uncertain: economic dips, tariff anxieties, and foreboding questions about where the jewelry market might go. JBT’s second-quarter data for 2025 is here, and it offers a more encouraging picture—one that could suggest stabilization and even potential growth. 

New Businesses on the Rise

New business listings are up 3.3% across North America, with 98 new businesses added in Q2 2025 and 190 year to date. Retailers experienced the most significant growth, with 83 new businesses launched in Q2 2025, a 38% increase year over year. While growth wasn’t consistent across every category, the rise in retailer startups may reflect an industry still open for opportunity.

New businesses by class group, year over year.

Discontinuances by class group, year over year.

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Business Closures Slow

A total of 145 businesses ceased operations in Q2 2025 in North America, down from 196 in Q2 2024. Wholesalers saw the most improvement, with a 53% reduction year over year. There were 9 wholesaler closures this quarter, compared to 19 last quarter. Retailers also experienced a considerable 26% decrease year over year. The slowing of closures could suggest businesses are holding steadier in 2025 and strategizing to match a shifting landscape. 

Collections Claims Decrease

Businesses are turning to collections less often in 2025 and for lower amounts on average. The number of claims placed in JBT’s collections department decreased 9% year over year, from 137 in Q2 2024 to 124 in Q2 2025. The average claim amount saw a reduction of 28%, from $10,793 in Q2 2024 to $7,721 in Q2 2025. Lower claim numbers and claim sizes may point to a more controlled credit environment and less dire payment issues for borrowers. 

Conclusion:

Altogether, the Q2 2025 data suggests an industry adapting to change. New businesses are entering the market and closures are slowing. Creditors seem to be taking a more proactive approach to risk management, and borrowers may be experiencing less of the kind of financial strain that results in a collections claim on their credit report.

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