Many small firms fear a bleak future November 21, 2014 - 11:39AM 26 reading now People may romanticise about going to the local shops but it appears few of us actually bother. A new survey has found that three quarters of owners say it's getting harder to run a small business. Worse still, two in five fear their shop won't be around in five years' time, according to research commissioned by American Express. "Hard work, passion and good old-fashioned service only takes you so far - you need people to come through your door," American Express vice-president of small business services Martin Seward said, releasing the report on Friday. Yet despite the challenges, time and time again owners demonstrate a commitment to adapting, he says. The survey found 41 per cent of the 1253 owners polled are investing in an online or social media presence. Other strategies include price discounting (29 per cent), increasing marketing and advertising, negotiating better deals with suppliers and increasing the range of products sold (all 26 per cent). The Australian Attitudes to Small Business Report is part of a month-long national Shop Small campaign. Federal Small Business Minister Bruce Billson says for consumers who value the unique characteristics of a local shopping strip, it is important for them to ensure it doesn't become a thing of the past.