One hundred local business owners weighed in on where they think the economy is going.
While the recession is taking a toll, their answers may surprise you.
11 News Reporter Joe Gagnon has more.
Slumping economy, meet opportunity.
Chris Brown, the owner of local bike shop Brown Cycles, still rides full throttle even as people are cutting back.
He says, “Opportunity is opportunity, you need to bend and mold to take advantage of those.”
Beyond selling bikes, is the company’s heavier emphasis on service.
He says, “The service industry picks up in times like these.”
Repairs, training people to do repairs, and getting new riders with better deals on cycles.
He recently opened his own used bike shop, Dirty Brown Cycles.
Business expert Georgann Jouflas says it's flexible business models like brown's which can overcome any bumps in the road.
“One's with good strategies are still increasing sales and holding their own,” she says.
Jouflas spoke with one hundred local businesses for her 18–month long Listening to Business Survey.
Most of the companies say they have not completely halted hiring or investing money in improvements.
Other businesses throughout the country cannot say the same, she says.
“We're not feeling it as bad as the rest of the country.”
She says there was a common concern among several owners.
Many of them worried about government regulations on issues like public healthcare.
More so than any survey she's done before.
“Most businesses are whatever, it doesn't really bother me, but this time there was a big concern,” she says.
In a nutshell, there is worry about what new laws are around the corner.
But most owners like Chris Brown are optimistic.
“We're in a good spot,” he says.
To read the report for more interesting statistics, click the link below.
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