What type of entreprenuers and business investments would you like to see in your neighborhood? Living in Cleveland has dramatically changed over the generations with it's dwindling population. Yet, a new generation of investments has been ongoing in downtown and along certain corridors like Detroit Shoreway, Ohio City, and Tremont which have definitely been a driving force of new economic development in Cleveland.
Notably, countless storefronts have been vacated and in some communities the unsightly blight of boarded up buildings remains. What does it take to fill these storefronts with long term viable small businesses?
Factors to consider include budgetary requirements. Insurance rates have skyrocketed in Cleveland. Losses to theft and vandalism are a huge concern of any small business. Legitimate licensing requirements at City Hall are often a challenge for the unconnected folks as well; many times resulting in Occupancy Permit issues that have historically been known to end with pay to play inspections for sign off's. Yet, if you can get past these little things and sustain a small business; you have gotten further than most.
Reasonable rents are another consideration for any small business investor wishing to spend years at a location serving the community. Storefronts like the Walgreens building on W. 31st & Clark and the old Kmart Building on West 65th Street are asking for extortionist levels of rent to ascertain those buildings and invest in the community. Considering their mammouth sizes; heating and electric bills will run out any small business investor in a very short period; let alone the maintenance of roofs and the exterior premises. Water, Sewer, and Trash Removal rates are also planned to rise exponentially over the next decade and can quickly devour a small business investor.
The financial costs of doing business in Cleveland leave little room for growth of a small business investor; let alone the fact that it far removes the idea of them making a profit that would be sustainable to their basic needs as human beings. Hence; it becomes a defeatest equation in our neck of the woods. These are some of the things the politicians seem to have overlooked when considering what it takes for small businesses to thrive locally.
Years of inflation drove up the costs of doing business beyond sustainabililty in Cleveland, Ohio. Countless storefront properties in Cleveland used to house various small businesses that created communities along the corridors including Fulton, Denison, Clark, Lorain, West 25th Street, West 65th Street and more. Today; those locations are abandoned and awaiting the next big entreprenuerial rush to fill their vacant spaces....or they await the underground scrap network to finally vandalize them for their scrap so that the owners can then file police reports which support the insurance company claims paying out to the owners...and the work rarely getting done to restabilize the building....resulting in condemnation and demolition....and open green space...Yet, I guess that is the ultimate goal; to create green pastures for Urban Gardeners to flourish and share their organic garden delights at farmer's markets with all the people.
Demolitions appear to be the best investment business in Cleveland over the next 10 years. Urban gardens follow that investment consideration for future Cleveland investors. Farmer's markets and bicycle sales for all the bike paths are also a great investment consideration.
Back in the day, immigrant families joined forces to sustain small businesses. Many would work for meagerly wages, some for nothing at all to sustain the family business. Try to get a young family to do that in 2011. (Smiles)...It's a rarity. Those immigrants would build up their businesses while cohabitating to save money and reinvest it in their businesses. They sacrificed much to work 7 days per week and keep their businesses open for the community around them.
Today and tomorrow; how do we restore our communities and revitalize the American Spirit to invest in the countless storefronts throughout Cleveland that remain vacant today? Have greedy, commissioned real estate agents overpriced these venues? Have the people stopped desiring to invest into the communities? Have pay to play politics violated too many people? What will it take to continue revitalizing our communities in Cleveland, Ohio?
They say that small business investment at large revitalizes communities and helps us recover from recessions. What concessions and considerations will the local politicians offer to small business investors who are eager to battle the considerations above to invest in our city? Will they offer tax abatements? Will they offer micro business loans under $50,000? Will they try to micromanage the small businesses through inspections? How will they advance our community for the next generation?
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