2024: Could Many More Small Businesses Fail This Year?

https://images.hive.blog/DQmNqj5euXg52dxJsr494hJdebnv2oXUsaj1dkmsJKZwBNv/finance23.png
One recent report from early this year suggests that around one third of small business owners are concerned that their company will not survive 2024.

There are a number of businesses that are already struggling and still haven't recovered from the pain that they endured over the pandemic period. With the economy seeing issues, inflation, and other problems, it could be the end for even more businesses.

One of the big problems facing small businesses today is crime and theft, something that they cannot endlessly endure without having to think about closing up for good. Each time they see a window broken or face some other crime situation, it isn't as easy as turning to their insurance to deal with the problem. They can still face pain from the encounter and if seeing too much crime they might close up altogether.

Last year one study found that business creation was at an all time high but the crime wave in some regions is devastating small business, and they aren't the only ones. Big stores like Target have also been closing in major cities too because of theft. It has put more pressure on local governments as small business owners call for a solution to the problem. It's estimated that from shoplifting alone businesses are facing tens of billions in cost. Businesses from retail stores to food locations, and more, have faced these challenges and are worried that this year could be their last.
 
https://www.washingtonpost.com/business/2023/09/14/small-business-entrepreneurship-gem-report/
https://www.foxbusiness.com/small-business/one-third-small-business-owners-worried-their-company-wont-survive-through-2024
https://wpde.com/news/nation-world/rising-crime-wave-affects-small-businesses-causing-closures-and-increased-costs-economy-job-creators-network-inflation-labor-credit
https://abcnews.go.com/US/san-franciscos-retail-exodus-crime-experts/story?id=101100884