Business

Small Businesses Hope To Survive Tough Times

PERRY HALL, Md. (WJZ) ― Small businesses around Maryland are noticing their customers are very cautious about spending money.

Some of them told Suzanne Collins surviving hard times will take big adjustments.

The owners of The Village Gem in Perry Hall notice customers are more hesitant about buying jewelry, so they will buy less stock this Christmas.

They'll also make more of that jewelry themselves.

"Christmas is going to be very interesting. I think we'll do well. It's not going to be like the last few years. We give people service, service, service. And I think that's going to help pull us through," said Tommy Thobe.

The financial crisis has small business owners taking a deep breath as they weather the next few months.

"All of our employees have been with us for a long time, and we wouldn't want to let anyone go, so we're hoping we make payroll," said Sandi Thobe.

A non-profit that offers advice to small businesses has seen a big effect in Maryland.

"We've lost some businesses, the smaller ones such as your carry-outs, a lot of companies, small service companies that are business to business," said Sonia Stockton, Small Business Development Center.

The Small Business Development Center says it's those businesses tied to the real estate market that are suffering the most, But small mom and pop companies that operate on slim margins also have been hit hard.

The Oasis Coffee and Cream opened more than a year ago in Middle River. As people shy away from high priced items, the owner hopes they will go for great coffee. Keeping it all together during this time takes business acumen.

"I do have a line of credit, and I mortgaged my house, and I have some credit cards I'm trying to juggle around, so it's a challenge. You know, as the money comes in it's already spent," said Bill Lynam, Oasis Coffee and Cream.

Both small businesses say being local helps.

As customers get upset with large corporations based far away, they still trust the business next door.

A consignment shop in Perry Hall told Eyewitness News it's doing well during rough times as people look for cheaper alternatives to department stores.

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