How does gentrification affect local businesses?

Can you explain how gentrification impacts local businesses?

Gentrification often leads to increased property values and rents, which can benefit some businesses but displace others.

What types of businesses are most affected by gentrification?

Small, locally-owned businesses often struggle the most, as they may not afford rising rents compared to larger chains.

Are there any positive effects of gentrification on local businesses?

Yes, gentrification can bring in more affluent customers, leading to increased sales for some businesses that adapt.

How can local businesses survive gentrification?

They can focus on community engagement, diversify their offerings, and collaborate with other local businesses to strengthen their presence.

What role do local governments play in this process?

Local governments can influence gentrification through zoning laws, development incentives, and support for small businesses.