Oct 17, 2008 7:11 pm US/Eastern
Williamsburg Business Owners Optimistic In Crisis
Reporting
Cindy Hsu
BROOKLYN (CBS) ―
Many businesses are suffering in this economy, but especially small mom-and-pop stores. If your business is one of them, you may be interested to know there's a close community in Williamsburg, Brooklyn that knows how to survive.
Angel Santiago has been a butcher in Williamsburg for more than 30 years. He now works side by side with his son Nicky. While business is down, utilities and insurance are way up, costing them about $6,000 a month. But they're ready to ride out this rollercoaster economy.
"I've seen it before, I've been in the business since 1970, so I've seen the up-and-downs and when things get bad," says Angel. "People have to eat."
"so you're in a good business."
"I think so."
Around the corner on Graham Avenue, you'll find Rick Aviles. His store use to be so full of carpet and flooring, you could barely walk around the shop. Now there's plenty of space, because he's dropped his inventory by 60-percent.
"Our concern is survival, we all have families. My brother and I are partners in the store, we have kids," he tells CBS 2.
Betty Cooney says the tight knit community of neighborhood businesses along Graham Avenue will survive, after all, it has before. Back in 1977, a blackout in the area led to fires and riots, and while many nearby businesses were looted and burned, the merchants along Graham Avenue were able to defend and save their stores.
"They're not going to run, these aren't people who run," says Cooney. "These are people who stand by a community, they stand by a retail area and they're going to survive. They're going to fight back."
Cooney says this time, the store owners are up against skyrocketing rent increases and strong competition from trendy places on the east side of town. But she's hoping shoppers who are searching for great deals in this economy will find their way back to Graham Avenue, which she calls the hidden jewel of Brooklyn.
She adds it's the largest affordable retail area in Brooklyn, where shoppers can find more than 180 stores stretched along a dozen blocks.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
2009 Celebrity Deaths
Click to enlarge
Stumble It!
Comments