Where does the family own business go?

Just imagine you run a family-owned business. You work hard to provide great products at reasonable prices. You offer exceptional customer service, and you do everything you can give back to your community. When other small businesses open as your competitors, you find a way to diversify your product. You change your services to suit more customer needs in the community. Immediately the two companies are fine, and you realize there is nothing wrong with a little competition.

But when Walmart is open in the city, this is a completely different story. Your products are made in America, good quality, but cannot compete with the price of Walmart imported goods from China. There are many loyal customers who continue to come to your store, but most of the profits are lost from retail giants. You struggle to keep the business running, throw special events and offer discounts, but there seems to be enough. You are not the only business that struggles. You note that some businesses in the city begin to close, and realize you are well probably next.

This is a story that happens throughout America. Small businesses are destroyed by the giant franchises that they have no hope of competing. When thousands of stores close their doors throughout America, it seems that family-owned business has become an endangered species.

And for all of you city residents, don’t think this destruction is limited to small towns. In 2006 a Walmart was open on the west side of Chicago. In two years, 82 local stores come out of business.

So what do we lose to this little business?

More than you can imagine. Many local businesses that compete with each other are the best way to ensure creativity, innovation, quality and cheap prices for the long term. Local businesses choose products based on local customers and community interests, unlike the massive competitors of those who choose based on national sales plans.

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