Small Business Failure Rates. Small businesses often struggle due to limited resources. Approximately 20% fail within a year, and only 50% survive for five years.Impact on Communities.

When many small businesses fail, it affects the entire community. Local job opportunities decrease, making it harder for residents to find work.

Declining Property Values Small businesses contribute to neighborhood value. Closures can lower property values, impacting homeowners' equity and borrowing potential.

Decrease in Local Services Closed businesses lead to decreased tax revenue, resulting in fewer public services and neglected parks. Quality of life is affected for residents.

Supporting Small Businesses Supporting local businesses is crucial. Choose the neighborhood cafe over a chain and buy from local booksellers. Spending a bit more can make a difference.

Long-Term Benefits Supporting small businesses can increase property values, benefiting homeowners. Investing a few extra dollars now may yield significant returns in the future.

Alternative Support Methods If finances are tight, leave positive reviews and recommend local businesses to friends. Word-of-mouth support can help small businesses thrive.

Financial Opportunities Use cash back cards with 0% intro APR until 2024 to save money. Choose cards offering high cash back rates and no annual fees for maximum benefits.