Summary: In New York City, there is an increasing amount of large chain corporations moving into the space of former small businesses. These small family run businesses are being crushed as the consumers are starting to trend more towards what is mainstream, and not as intentional about supporting small businesses. Psychologists have stated that this trend is harmful as studies show that as people walk down the street and just see chains instead of small, local businesses that they trend more towards being depressed.
Analysis: This is a frightening thing as this trend will continue to take place all over the country. Small business owners make up a lot of the population, and the job market will shift dramatically as these small business owners are put out of business and forced to become employees at the large businesses that took them out. Small business owners are the backbone of the American market and they cannot disappear. We as Americans must do our part to start shopping more at local businesses. This reminded me of when the. British tried to force the Americans to only buy from British companies to try and keep all the money within the country.
Article Link: https://www.theguardian.com/business/2018/oct/28/new-york-city-has-changed-and-small-businesses-have-suffered
I agree with Camille, we need to stand up for small buisnesses because they are also a key part of our economy
ReplyDelete- Koko Chen