Commentary: Chicago's crime affects the success of small businesses in the Loop and on the South Side and in turn the neighborhoods they serve.
of business failure and mobility in Southern California, published in the journal Social Science Research, found that when communities saw an increase in violent crime, property crime or both, the odds became greater that area businesses would either move or close.
These statistics aren’t surprising. It makes sense that fewer people venture to businesses in high-crime areas, which then causes more businesses to leave those areas. But crime’s true insidiousness lies in its lasting impact. Crime victims suffer emotional and psychological issues long after their physical wounds have healed. A community plagued with high crime loses businesses over the course of a year or two, but it can take decades to gain businesses back. And businesses in higher-crime areas have to work even harder to stay afloat.
Small businesses created 64% of net jobs in Illinois between 2010 and 2019. And data shows that when people living in a community have the stability of a job, crime rates go down. Listen to Chicago’s mayoral debates, and you’ll hear dozens of proposals for how to address crime in the city. The next mayor will largely be judged on how well she or he addresses this issue. So, in addition to the policing, criminal justice and judicial reforms that will likely be implemented, in light of this new data, city and state leaders trying to reduce crime rates should also look for ways to make it easier to start and operate a business in Chicago and Illinois.
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