Aired 6 years ago on WSRQ Talk Radio 

Shark Tank's Barbara Corcoran On Small Businesses And Large Franchises

Former Shark Tank celebrity and American business woman, Barbara Corcoran, discusses the success of smaller businesses compared with franchise businesses.

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"It's the small businesses that are the little steam engines on the front side that's creating a lot of new businesses and jobs"

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Andrew Toth Brian Ach Janette Pellegrini
TRANSCRIPT This transcript was generated by AudioBurst technologies

All of these big franchises kind of take over all the space and then once in a while you have one those old kind of mom and pop stores where you go 'no that's where the real quality is, that's what's so fabulous'. And a lot of these small businesses are falling by the waist side, so what do we do about it? - It's a very hard trend to reverse, but the up side, or the happy news on the other side, is as well as you have smaller, older businesses not affording to renew their leases say in a retail location so they suddenly are gone, which is a heart breaker when you love the people. You love their service, and you love their prices and than they get another chain moving in. It's kind of like depressing. Or that's the way I always feel about it. - Yea, I agree. - You should be aware, on the other side of the equation, there are more smaller businesses opening today than ever before. - Really? - They've gone up by twenty percent in the last couple of years. And they're still responsible, in fact today they're still responsible for more jobs. They're responsible for almost ninety percent of all jobs that are created. It's not the chains you're seeing and not liking that are making the jobs really. It's the small businesses that are that are the little steam engines on the front side that's creating a lot of new businesses and jobs. So, you might have an odd perspective on it because the great majority of the new businesses that are starting are in the service sectors. Meaning, giving a service versus opening a store. Or, selling a product versus opening retail. You tend to notice the retail. But what's going on beyond the scenes are new businesses. Many more smaller businesses opening in the other sectors.