As the Pain Trickles Down…

Many small businesses are created in order to serve the needs of the larger corporate sector. High end restaurants and caterers, decorators, landscapers etc. are not needed as many large companies disappear and those still afloat trim their spending to show they are feeling the pain to their stockholders. Those who lose their jobs are cancelling child care, house cleaning, lawn maintenance, music lessons, you name it. All of this leads to harder times for a wide array of small businesses.

Jacksonville is a case in point. All of the lost jobs in our formerly large development and home mortgage related industries have a direct effect on local businesses. All of those cancelled holiday parties add up and we are seeing a lot of clients who are likely to go out of business in the coming months despite best efforts to hang on. Read this article from Reuters called Small Businesses Feel Wall Street’s Pain.
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