Tuesday, November 4, 2008

The Election and the Economy

Just as a candidate could win or lose in this election, small business owners could be looking forward to the future or dreading more economic failure.

Shops in the Garment District like Precila Coats Collection, Little Diana and Prato need a better economy. Sammy Kdirny, a Prato employee and Obama supporter, plans to keep his prices down and look for cheaper merchandise. “People are about bargains now, they just don’t want to throw money away,” he said after explaining he can’t afford to lose any customers.

Kdirny is not the only one concerned. Kamran Ansari, the manager of Precila Coats Collection, believes if a certain candidate is elected business will get worse. Right now his store is 40 percent behind last year’s sales. If this election doesn’t help, he thinks he will have to go into service-oriented business like a restaurant.

Little Diana, a children’s dress shop, will be making more of its own clothes and raising prices. Employee Diana Astrada said the $10 dresses you could once find for your little girl won’t be offered any more.

Whether it be Obama or Mccain, these stores are hopeful that the economy will turn around in their favor.