Effect of Retail Giants on Small Businesses
Wal-Mart has unsuccessfully attempted to embed itself within New York’s five boroughs. Recent survey results from the company, which can be seen here, show that small business owners actually wouldn’t mind sharing the city streets with the retail juggernaut.
Respondents who were in favor of Wal-Mart’s move thought it would help to create new jobs and provide lower price options for consumers. On the other hand, some say the move would drive all local, small retailers out of business.
Regardless of what side you’re on or whether or not you think the company survey was biased, the fact still remains that small businesses need to do whatever they can to stay relevant and profitable, with or without mega stores surrounding them.
Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.
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