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Economy Affects Local Small Businesses

Economists Say Small Businesses Key Part Of Economy

POSTED: Wednesday, September 16, 2009
UPDATED: 4:56 pm EDT September 16, 2009

Many economists believe small businesses like the stores in Avondale, Riverside and San Marco are a key part of the economy because of the percentage of Americans who work in them.

But some local business owners said the economy is making it difficult for them to keep their doors open.

To shoppers, these stores are special for another reason.

"They have products and brands nobody else has," one shopper said.

Recently, many businesses, even franchises, have been closing in these areas, and that has unnerved several owners.

"It's kept me up at night," small business owner Dana Nolan said.

"I don't think people know how scary it is," small business owner Jane Canady added.

Nolan and Canady both own businesses in Avondale and are each having to take on second jobs because of slow sales.

They said they've pooled advertising costs and reduced high-end inventory, but still need help from the community.

"It's great to save, but spend a little," Nolan said.

"Don't forget your neighbor," Canady added.

Although they both said they're still hopeful sales will pick back up soon, an economist at the University of North Florida believes it might still be a tough road ahead.

"We won't see a change till next year," the economist said.
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