The Role Of Gentrification In Small Business

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Gentrification is also eroding small business in many neighbourhoods. In low-income areas, there tends to be more independent economic activity as local residents start small businesses close to where they live. At the moment, these businesses face multiple threats. Rapid demographic changes are narrowing the customer bases of neighbourhood businesses, and increased property values are making these businesses less sustainable. Stephen Fowler, the owner of the ‘Monkey’s Paw’ bookstore that recently moved from Little Portugal to Bloordale, says that his store’s rent tripled after the building was sold to a new owner. He notes that “little diner[s], or little junk store[s], those things are all getting priced out, because all of a sudden there

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