Here to Stay — 20+ Years — Saluting Longstanding Businesses

There may be no bigger measure of success in business than longevity. Yes, companies exist to make money to meet payroll and keep the lights on and yes, expansion and name recognition can all be hallmarks of a thriving venture. However, where those things can reside as a by-product of longevity, the opposite is not true. The business world is full of once-hot ventures that expanded too quickly or failed to sustain profitability over the long haul.

Small-business statistics reveal how difficult it is to keep a venture open for just a few years, let alone for decades. The latest figures from the U.S. Small Business Administration reported that just fewer than 12,000 businesses opened in Arkansas between March 2022 and March 2023, while nearly 8,000 closed.

While the SBA did not detail information about the deceased companies, it is a good bet that a lion’s share of them were not that old. Arkansas ranks in the bottom ten states in business failures within the first five years at 52.8 percent, the Bureau of Labor Statistics states, tied with New York and Hawaii, underscoring how difficult it is to achieve any sort of meaningful business lifespan.

While Arkansas could definitely improve in its rate of business survival, the facts of business life still hold sway, even in states with the best business conditions, and those facts of life are hard. The Bureau of Labor Statistics reported fewer than 35 percent of small businesses in the United States overall make it 10 years, and half of new ventures fail at the five-year mark.

Breaking it down further, companies related to agriculture, forestry, fishing and hunting have the best staying power, since slightly more than half of companies in this field survive 10 years. Next comes utilities (45.7 percent), manufacturing (43.6) real estate (42.2) and retail (41.7) to round at the top five. For the record, mining/oil/gas businesses were the least likely to survive that long at 24.5 percent, making up the bottom three along with information services (29.1) and wholesale trade (30.1).

One might think once a company reaches the 10-year mark, though, ownership has gained sufficient headwind and expertise to enjoy smoother sailing, yet the numbers disagree. The gods of the marketplace appear to give no free passes based on age. The Bureau of Labor Statistics reported that by the 20-year mark, nearly 80 percent of small businesses have fallen by the wayside.

Therefore, when Arkansas Money & Politics set out to salute the state’s long-lived small businesses, we did so knowing that those which resided in even the youngest segment — the minimum 20 years — represented but 2 out of every 10 companies to even make it across the threshold. As for the ones that made it beyond that, each succeeding decade elevates those firms into more and more rarified air, defying the ravages of time and successfully navigating the shifting sands of customer tastes, product mix, technology, market innovation, supply chain and delivery.

Put another way, the companies on AMP’s list have prevailed over almost unimaginable odds to be still standing but, thanks to resilience, adaptivity and just plain grit, are still here. As the state’s premier publication for the advancement and promotion of Arkansas’ business community, we do not take lightly the incredible stamina, hope and skill that it has taken to keep these honored companies open through good times and bad.

We also know the list we have compiled herein is not an exhaustive one, and so to anyone we may have missed, please accept our blanket salute to all companies 20 years old and older across the Natural State and, with it, our admiration and gratitude. Here’s to the multigenerational vet clinics and family-run markets, the trucking companies and retailers, the law firms and cafes, the manufacturers and farmers and fabricators large and small throughout this great state.

From one longstanding business (AMP at 11 years and AY About You at 37 years) to all of you, we tip our hats to your determination and skill. Congratulations on your continued success, and here’s to your sustained longevity.

Arkansas Surgical Hospital

The whole reason we were established was to create a patient experience that was unlike anything that was being provided in the health care market. All of our physicians are in independent practice and they all have that small-business mindset of putting the patient first above everything else. That hasn’t changed in 20 years.

Brian Fowler,

CEO

Arkansas Surgical Hospital

Years in business: 20

The Charlotte John Co.

There are many friends we’ve made along the way. Our mission statement reads, in part, “to create positive real estate transactions for our buyers and sellers, as well as to develop long-lasting relationships with them.” We have strived for that every single day.

Charlotte John,

founder/principal broker

The Charlotte John Co.

Years in business: 43

RPM Group

We promote a culture of showing up daily with a service-oriented mindset. Staying true to our core values of trust, integrity, service and excellence has kept us growing and thriving.

Kris Upton,

owner/CEO

RPM Group

Years in business: 70

Capitol Glass

We continue to provide the highest quality auto glass service in the central Arkansas area and continue to take care of our loyal customers while preserving our family legacy for several generations to come.

Aaron Grimes,

co-owner

Capitol Glass

Years in business:  75

Signal Media

Our local focus has remained consistent throughout the company’s existence. While other businesses might look to expand outside of Arkansas, we kept — and continuing keeping, our focus on the businesses we work alongside each day.  Employees are our biggest asset; we try hard to make the company a great place to work.

Terri Mahan,

CEO

Signal Media of Arkansas

Years in business:  41

Wright Lindsey Jennings

Our firm’s history is long, and our innovative spirit is enduring. Our unwavering commitment to relationships has built Wright Lindsey Jennings into one of the region’s premier law firms, helping shape how Arkansans live, learn and do business.

Steve Lancaster,

managing partner

Wright Lindsey Jennings

Years in business: 125

Hugg & Hall

Our core focus has been on our three main stakeholders: our customers, employees and suppliers. All three serve as the foundation for our success and growth.

Robert Hall,

vice president

Hugg & Hall

Years in business:  69

FAB&T

For us, it’s a very simple message and approach. We follow the do-right rule, we honor and follow through on our commitments, we will hold each other accountable, and we will make it fun. This applies to customers and our bank family alike.

Roger Sundermeier Jr.,

senior vice president and chief brand officer

First Arkansas Bank & Trust

Years in business: 75

Roller Funeral Homes

The secret to our longevity is simple—we put families first. Families are not just numbers to us; they are our neighbors, our friends, and the people we sit beside in church. We have grown because families trust us, and we don’t take that lightly.

Renata Jenkins Byler,

third-generation owner and vice president of marketing

Roller Funeral Homes

Years in business: 144

Time-tested businesses

What follows is a list — not comprehensive — of companies in Arkansas that have been doing business for more than 20 years. If you know of a company that was launched more than 20 years ago, let us know about it by sending us an email to press@aymag.com.

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