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The closure of a major establishment like a movie theater or sporting complex disrupts the broader local economy. These destination businesses expose consumers to surrounding establishments like restaurants and specialty retailers. ICSC vice president of research and public relations Stephanie Cegielski explained to CNN Business: “This is inexpensive advertising for a small business that results in a heightened awareness of the brand.” The article also provides insights on how small businesses should assess future locations in light of these dynamics.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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