News Summary
Shreveport welcomes the new Crockett Street Trading Company, which opened on March 13, 2024. This vibrant addition to downtown offers unique products while fostering community connections. With small businesses making up 99.9% of American enterprises, the local economy thrives on such initiatives. The gathering spot emphasizes personalized service and local spending, highlighting the importance of supporting small businesses for a robust community. Local businesses are gearing up to meet upcoming demands, ensuring they remain essential to the area’s economic vitality.
Welcome to Shreveport’s Thriving Small Business Scene!
Shreveport is buzzing with excitement as it warmly welcomes a brand new addition to its downtown area! On March 13, 2024, the Crockett Street Trading Company opened its doors to the community, rejuvenating the spirit of local entrepreneurship in this charming Louisiana city. Located at 431 Crockett Street, this vibrant new shop operates from 8:00 a.m. to 6:00 p.m., Monday through Saturday. It promises to be a place where locals can discover unique offerings while supporting their own.
A Community Gathering Spot
During the grand opening, the atmosphere was electric as Shreveport residents flocked to the new trading company. Austin Allen, the front of house manager at The Magnolia Pit, was on-site assisting eager customers, embodying the warmth and personal touch that small businesses thrive on. These establishments are not just venues for shopping but are becoming central hubs for connecting with neighbors, sharing stories, and enjoying a sense of community.
Small Businesses are the Backbone of Our Economy
It’s interesting to note that small businesses like the Crockett Street Trading Company are a crucial part of the American economy. According to research, a staggering 99.9% of American businesses are classified as small, which means they have fewer than 500 employees. That equates to around 33 million businesses operating across the country!
These small enterprises are responsible for employing nearly 46% of all American workers, contributing significantly to the U.S. gross domestic product with a remarkable 43.5%. With such a vital role in the economy, it’s no wonder they enjoy a stellar reputation! A 2024 Pew Research Center survey even indicated that people generally view small businesses more positively than military, religious, and educational organizations. Conversely, large corporations received a negative perception from 68% of respondents. That certainly speaks volumes!
The Future of Small Businesses Looks Bright
Thanks to supportive legislation like the Tax Cuts and Jobs Act of 2017, which provided a 20% tax deduction for qualified business income under Section 199A, small businesses have flourished. However, this deduction is set to expire in December 2025. Thankfully, Louisiana Senators are backing efforts to maintain this crucial support through the proposed Main Street Certainty Act.
Embracing Technology for Success
As times change, so do business practices. A recent survey by Verizon Business revealed that the number of small businesses leveraging artificial intelligence has skyrocketed from 14% in 2023 to an impressive 39% in 2024. Meanwhile, local businesses are gearing up for increases in demand, particularly with events like Super Bowl LIX on the horizon. Small businesses in Louisiana are anticipating heightened activity and many are boosting their technology and staffing investments to keep pace.
Local Spending Keeps Our Community Thriving
Supporting small businesses is a win-win situation for everyone! The Greater Shreveport Chamber of Commerce emphasizes that spending $20 at local shops can keep approximately $13 circulating within our local economy. One shining example is On Time Fashions, a beloved local boutique that has been serving Shreveport for decades. The owner underscores the difference personalized service makes in a world increasingly dominated by big box retailers.
Embrace the Local Spirit
So, whether you’re looking for unique gifts, seeking a friendly chat, or simply supporting your neighborhood, the Crockett Street Trading Company and small businesses like it are here to provide a welcoming atmosphere and foster a stronger community bond. Remember, every time you shop locally, you are investing in your own community and helping it grow!
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Additional Resources
- Shreveport Bossier Advocate: Small Business Tax Cut
- Wikipedia: Small Business
- Shreveport Bossier Advocate: Verizon Business
- Google Search: Small Business Taxes
- KTBS: Shop Shreveport on Small Business Saturday
- Google Scholar: Small Business Impact on Economy
- KSLA: Shreveport Chamber Encourages Shopping Small
- Encyclopedia Britannica: Small Business
- The Advocate: Lender Helping Louisiana Businesses
- Google News: Small Business Support
