Economic Uncertainty Michael Collins President’s Column
October 2001
Our nation was shaken to its very core by the September 11th terrorist attacks, and though it may sound trite to some, we will never truly be the same. But make no mistake; America still stands strong as the world's economic and military superpower.
Economic uncertainty is impacting America’s small-business sector and belt-tightening is now officially underway. This uncertainty continues to grip small businesses, the backbone of job creation and the fountain of economic growth. Access to affordable energy may be the key to restoring confidence among small businesses. The confluence of economic conditions, along with rising energy prices, could not have come at a more inconvenient time.
For businesses operating on tight margins, double-digit hikes in electricity and other energy costs can mean the difference between profits and losses, or spell closure for some. Small business is critical to our community’s economic well-being.
As our nation rushes into a recession, what can we, as local businesses, do about the economic health of our community? Self-policing our businesses to ensure that our storefronts are appealing and that the interiors of our businesses are clean. Ensure that our salespeople are courteous and helpful; knowing the products they sell; knowing our customers and knowing our community; assuring that our businesses are customer friendly. These are all vital first steps to educating our customers in the art of Shopping Local. Give our customers not only a reason to shop with us once, but to become repeat customers.
My thoughts are leaning towards a Local Business Council. This council would consist of Chamber of Commerce Members, other local business members, and MCAGCC leaders. The mission of this Council would be to represent the collective interest of our local business by promoting, informing, supporting, and continuously improving consumer awareness, thereby contributing to the growth of our local economy.
Your comments or suggestions are solicited. Please feel free to email them to me at collins@29chamber.com
Comments