Small Businesses Banding Together In Lean Times
July 28, 2016 at 4:25 p.m.
By Daniel [email protected]
Anderson, the owner of Maple Avenue Florist in Warsaw, said she wasn’t going to allow the business which has been open for more than 80 years to close on her watch.
The 2008 financial crisis and housing bubble burst is still creating ripples in the U.S. and world economy.
And small businesses are still feeling the effect.
According to statistics from the Small Business Administration, from 2007 to 2008, Indiana lost more than 3,000 small businesses and the unemployment rate spiked to 10 percent.
While the unemployment rate in Indiana has dropped to around 8 percent, small businesses continue to struggle.
For Anderson, she took to cost-saving measures.
Anderson is friends Millwood Windows owner Nick Yoder and his wife Holly.
They were talking about the struggles of running a small business.
Anderson mentioned she was having troubles with her front window that was in such bad shape snow would get in during the winter.
So to help save her money, Yoder got creative. He took a door with a large window panel and turned it into Anderson’s new window.
For Anderson, it was a cost-saving measure that improved her store.
For Yoder, he was able to use part of a door rather than scraping it.
“I try to work with people on limited incomes. The way the economy is right now you just about have to,” said Yoder. “We as small businesses need to do that.”
Yoder said typically his profit margins hover around 12 to 15 percent but when working with someone on a budget he’ll operate between 6 to 9 percent.
“It’s about doing whatever you can,” said Anderson. “When I took over (Maple Avenue) I said to myself I would do whatever it took to keep the doors open.”
Anderson’s friend Susan Grill has alot gotten in on the small business collective.
Grill owns and operates Susan Grill Interior/Shop Upstairs in the Village at Winona.
Grill said she’s noticed foot traffic and retail business has slowed down but has been able to keep clients whose she’s had for years.
Grill helped Anderson decorate her place with some remnant fabrics.
“Pam is my flower girl,” said Grill. “She does flowers for any occasion. She was looking for some fabrics. So it worked out.”
Grill said she once traded dental work for design help.
While it also may be good business to have a cooperative mentality, it also may serve a greater good.
“Anytime you do something for somebody, regardless of how you get paid it comes back to you eventually. Our reputation is what carries us,” said Yoder.
“We all need to support each other,” said Anderson. “I didn’t realize how important it was to shop locally and support small businesses until I owned one. I still shop at my competitor. But it’s about working together and helping each other out in any way we can. That’s how we all become successful.”[[In-content Ad]]
Anderson, the owner of Maple Avenue Florist in Warsaw, said she wasn’t going to allow the business which has been open for more than 80 years to close on her watch.
The 2008 financial crisis and housing bubble burst is still creating ripples in the U.S. and world economy.
And small businesses are still feeling the effect.
According to statistics from the Small Business Administration, from 2007 to 2008, Indiana lost more than 3,000 small businesses and the unemployment rate spiked to 10 percent.
While the unemployment rate in Indiana has dropped to around 8 percent, small businesses continue to struggle.
For Anderson, she took to cost-saving measures.
Anderson is friends Millwood Windows owner Nick Yoder and his wife Holly.
They were talking about the struggles of running a small business.
Anderson mentioned she was having troubles with her front window that was in such bad shape snow would get in during the winter.
So to help save her money, Yoder got creative. He took a door with a large window panel and turned it into Anderson’s new window.
For Anderson, it was a cost-saving measure that improved her store.
For Yoder, he was able to use part of a door rather than scraping it.
“I try to work with people on limited incomes. The way the economy is right now you just about have to,” said Yoder. “We as small businesses need to do that.”
Yoder said typically his profit margins hover around 12 to 15 percent but when working with someone on a budget he’ll operate between 6 to 9 percent.
“It’s about doing whatever you can,” said Anderson. “When I took over (Maple Avenue) I said to myself I would do whatever it took to keep the doors open.”
Anderson’s friend Susan Grill has alot gotten in on the small business collective.
Grill owns and operates Susan Grill Interior/Shop Upstairs in the Village at Winona.
Grill said she’s noticed foot traffic and retail business has slowed down but has been able to keep clients whose she’s had for years.
Grill helped Anderson decorate her place with some remnant fabrics.
“Pam is my flower girl,” said Grill. “She does flowers for any occasion. She was looking for some fabrics. So it worked out.”
Grill said she once traded dental work for design help.
While it also may be good business to have a cooperative mentality, it also may serve a greater good.
“Anytime you do something for somebody, regardless of how you get paid it comes back to you eventually. Our reputation is what carries us,” said Yoder.
“We all need to support each other,” said Anderson. “I didn’t realize how important it was to shop locally and support small businesses until I owned one. I still shop at my competitor. But it’s about working together and helping each other out in any way we can. That’s how we all become successful.”[[In-content Ad]]
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