CEDAR RAPIDS - Two locally-owned businesses in Cedar Rapids have become victims of our nation's struggling economy, and local economic experts say we will see more small businesses calling it quits before the economy bounces back.

"Unfortunately during this recession that is what we will see because small businesses are more likely to see their credit cut off," says Todd Knopp, a Cornell College professor.

The posters decorating the outside of Interior Elements in Cedar Rapids are not very popular with customers. They read "store closing" and "50 percent off sale."

"Yay, a lot of 'em are in shock. It's sad when you see something local and unique go away," says Alex Von Ashen of Interior Elements.

Two Cedar Rapids women opened this home furnishing / interior design store a little more than three years ago. But by year's end, they'll be out of business. Workers here say the owners have barely been able to break even the past few months.

"They don't bring home a paycheck or anything, so they are pretty much here working on their own time. It's a struggle, and yea, rent isn't cheap," says Von Ashen.

Their rent recently went up and the weakening economy is costing them customers.

"It's a tough time out there for many businesses," says Von Ashen.

Times are also tough at locally-owned John Wilson Sports - just a few doors down from Interior Elements. Big bright signs are catching customers off guard.

"They say oh my God," says Owner Pete Wilson.

Wilson says a combination of things led to the decision to close his family's sporting goods store, but a big factor is the economy. He says right now it's too risky to run the business he and his sister have owned for three decades.

"30 years roughly, besides the time I spent helping out as a kid," says Wilson.

But January's closing date will end the Wilson family's nearly 65 years of owning this store.

The Cornell College professor of economics and business says we have not hit rock bottom in this recession. And that history tells us when we get there, it's likely going to be 18 months to 2 years before we see a substantial recovery. But that guess might be optimistic because we are walking uncharted territory.