KKTV - Economy - Headlines

Bad Economy Snuffing Out Businesses

By: Rosie Barresi Email
By: Rosie Barresi Email

Businesses small and big right here in Colorado Springs are feeling the rippling affects of a souring economy. The Mission Inn Restaurant which was open for more than three decades has even closed.

The Mission Inn has kept their bar area open.

The Greater Colorado Springs Chamber of Commerce CEO David Csintyan says despite unexpected closings like the Mission Inn Colorado Springs is still doing better than most cities.

Csintyan says small businesses need to hang on because there is light at the end of the tunnel.

And Mission Inn is not alone. Giants like Circuit City is cutting back. Their store on North Academy Blvd. is shutting its doors. Along with large chain restaurants like the Village Inn. They're scaling back too closing the one on North Academy Blvd.

"Compositely Colorado Springs is still holding its own, but not with-out problems," said Csintyan.

Csintyan says Colorado Springs just needs to hold its head high. "We've got to get our confidence back up, we've got to start spending those dollars," said Csintyan.

Small business owner Bruce Morgan who owns Kitchen Tune-Up on Garden of the Gods Rd. says right now people don't want to crack open their wallets. "People are not buying the high-end ticket items like they used to be doing they're just thinking, 'Well, how do I spend my money at this time,'" said Morgan.

But Morgan says he sees the glass half-full. "We're feeling the crunch, but not so much as other companies," said Morgan.

And if you just look around you'll see signs, 'We are hiring'. There are jobs out there and some businesses are still taking on new employees.

The Chamber of Commerce will be putting out a small business survival kit in a couple of weeks. Once it comes out you'll be able to find it on our WEBSITE at kktv.com.


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