Sometimes it’s a little more complicated than failing to adapt.
Sometimes there are challenges that happen that small business owners just can’t overcome. Things like the price of the rent for the commercial space that goes up 200% because it became a prime location. People stop shopping at a small shop because the prices are a bit higher than mega stores like Walmart who can afford to have smaller profits on sales due to the amount they sell or even Amazon.
Next thing you know, these small shops that support your local neighborhood and pay the local taxes disappear and the big mega corporations, who are registered in tax havens and pay minimum taxes, take their place because they can afford it.
Sometimes it’s a little more complicated than failing to adapt.
Sometimes there are challenges that happen that small business owners just can’t overcome. Things like the price of the rent for the commercial space that goes up 200% because it became a prime location. People stop shopping at a small shop because the prices are a bit higher than mega stores like Walmart who can afford to have smaller profits on sales due to the amount they sell or even Amazon.
Next thing you know, these small shops that support your local neighborhood and pay the local taxes disappear and the big mega corporations, who are registered in tax havens and pay minimum taxes, take their place because they can afford it.