Economy affecting small businesses

TERRE HAUTE, Ind. (WTHI) - A tough economy is making life difficult for small business owners. Reports show local shops generate two to three times more local economic activity than chain businesses.  

But with three recent closures, we wanted to find out what struggles area businesses are facing.    

Three Terre Haute restaurants closed down in the past two weeks.  

Two of them, Beef O’Brady’s and Giovanni’s were locally owned and operated.   

Manager of Family Table Richard Simon knows first hand the challenges small businesses face.

But was disappointed to hear the toll it’s taken on other restaurants.

“I feel quite surprised. It could be because we might be next.  You never know,” said Simon.   

President and CEO of the Terre Haute Chamber of Commerce Ken Brengle said he can't attribute the recent closings to anything in particular. 

But he doesn't want this to turn into a trend. He thinks the best recourse is getting a boost to the local economy.

“As the economy comes back, that’ll be the best way to stem businesses going out of business,” said Brengle.    

Richard said it's difficult for locally owned and operated businesses to compete against chain corporations.   

But he thinks they're doing quite well, expanding to two locations, one being less than a year old.   

Simon said locally-owned restaurants offer things chains cannot, like fresh ingredients and family-friendly service.   

But that doesn't make him any less worried.

“I know the economy has a lot to do with it. And of course, there’s many, many other factors that can be the cause of them closing down. But yeah, we could be next. We’re just hoping that we’ll stay open. For now, we’re doing quite well, keeping our loyal customers,” said Simon.    

News 10 tried reaching out to all three businesses. None could be reached for comment.