As businesses report their earnings to stakeholders this quarter it’s reinforcing the notion that small businesses are being crushed by the Big Box giants like Walmart, Target, Lowes and Home Depot.
Small mom and pop shops are in survival mode. “98% of the businesses in Texas are small businesses. They employee about 5 million people in this state. They really are the economic backbone,” says Annie Spilman, Texas State Director with the National Federation of Independent Businesses.
An entrepreneur’s dream may have been in manufacturing, or maybe retail, or possibly distribution, but it’s almost impossible to be all of them. Today’s conglomerate retailers are all those things and more, wrapped in one name. “When you get these Amazons and Walmart they are sort of everything in one: the wholesaler, the distributor, the retailer, and these small businesses really aren’t that. They depend on other businesses,” adds Spilman.
Last year, Amazon sold $67 billion in merchandise. The corner store can't keep up.
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