Netherlands — There is no doubt that 2024 was a tough year for small and medium-sized businesses.
According to the Bureau of Labor Statistics, about 18% of small businesses fail in their first year, which isn’t the worst statistic. A whopping 50% of small businesses fail within five years, and 65% within 10 years. Based on this calculation, only 35% of the startups featured in The Sentinel in 2024 will still be operational in 2034.
more:‘Absolutely terrible’: Dutch business owners say many will not survive until 2024 without support
Over the past two months, at least six local businesses have taken to social media to encourage customers to spend less and be brutally honest about the consequences of not complying.
Here are the companies sounding the alarm on social media:
Since moving to the former Sanders Family Bakery on Dutch River Avenue, Bliss Bakery has been transparent with customers about its struggle to survive.
In February, owner Krista Kotz turned to social media to cope with the economic slowdown and resulting layoffs.
Adnan is a passionate doctor from Pakistan with a keen interest in exploring the world of politics, sports, and international affairs. As an avid reader and lifelong learner, he is deeply committed to sharing insights, perspectives, and thought-provoking ideas. His journey combines a love for knowledge with an analytical approach to current events, aiming to inspire meaningful conversations and broaden understanding across a wide range of topics.
