What effect has this recession had on your favorite small business in your community?
January 14, 2010 · Posted By Belva Davis · Filed Under Business/Economy
Tell us what effect has this recession had on your favorite small business in your community?
Comments
One Response to “What effect has this recession had on your favorite small business in your community?”
I have seen a uneven impact of the recession on small businesses in my community. In general minority owned businesses are frequented by their community members. The Asian small business community in San Francisco has prospered. They are supported financially by their community members in mass.
The African American businesses in the community have had less success due to the fact that fewer members of their communities are part of the population of San Francisco at this time. Your program mentioned the loss of African American population as one of the reasons for the economic down turn being experienced by some business in the African American community. You also, however, stated a bigger problem for small businesses which is competition from big businesses which have the economic clout to offer the services at lower cost and the capital to out run small business with the distribution and circulation of advertisements for their companies.
It seems to me that some of the larger companies should subsidize small business to the degree that small business vendors especially minority owned businesses will be able to keep their unique businesses open during this hard economic time. The biggest threat to minority business is large corporate competition.