Several indigenous institutions in Springfield, Illinois are closing their doors after three-plus decades of service due to escalating supply costs and major competition from larger chains. This unfortunate trend manifests an evolving preference for larger corporations, jeopardising the city’s local businesses.
Among those closing include Armbruster Manufacturing Company, Remarkable Resale, and Mosser’s Shoes – names synonymous with the local culture and community. Closing signifies more than just shuttering the shop, it signifies changing lives of employees, selling off beloved equipment and letting go the dreams of the owners.
Mosser’s Shoes in particular offers a poignant example, struggling through tough choices due to lease expiration and other challenges. After a rent hike in their Springfield outlet, they decided to merge operations at their Champaign outlet.
Chamber of Commerce leader Mike Murphy, recognising these challenges, urges locals to support these businesses – stating that it is more than just a purchase.
Springfield’s local businesses closing doors
It’s making a difference. Pledging the strong commitment of the Chamber of Commerce, he calls for locals to adapt and innovate to meet consumer needs.
Amid these closures, Armbruster Manufacturing and Mosser’s Shoes are continuing operations, although Mosser’s Shoes’ Springfield outlet may close sooner based on stock depletion. These abrupt changes have created a sense of unease among employees and customers alike.
Data from the Bureau of Labor shows that only about 25% of new businesses survive beyond 15 years, underscoring the challenges entrepreneurs face. However, those who do survive typically achieve long-term success and growth. It is thus imperative that small businesses see these figures not as deterrents, but motivators to be part of the successful fraction, by pushing for a sound business strategy, clever marketing, and exceptional customer service.
