The Chattanooga Smoke House survived slow sales during winter to celebrate its first anniversary this month. Owners say it’s possible to see a profit within the upcoming months.
“Some days we were here from 10 in the morning until 8 at night and barely made $20,” said co-owner William Wright. “Now we can see the light at the end of the tunnel.”
Mr. Wright and co-owner James Massengill operate one of hundreds of minority-owned businesses expecting to see better days after surviving a recession economy.
A year ago, small businesses were struggling to survive. Now they’re maintaining, said Sherrie Gilchrist, executive director of the Tennessee Multicultural Chamber of Commerce.
Within the next 18 months, some of them expect to see a profit, she said.
About 600 minority- and women-owned businesses are members of the Tennessee Multicultural Chamber of Commerce.
“At first things were so difficult,” Ms. Gilchrist said. “Businesses couldn’t get any money (through loans), and no one was spending money on goods and services. Now they can stabilize where they are, and there seems to be potential for growth.”
It was this spring when sales started to increase at the Smoke House. More customers came with each month, and after the Bessie Smith Strut, the restaurant turned a profit large enough to give the store a cushion for the next three months, Mr. Wright said.
The economy moved from being a recession to recovery at the end of the year, said J.Ed. Marston, vice president of marketing and communications with the Chattanooga Area Chamber of Commerce.
The number of employed people and jobs available are slowly increasing, he said.
For more informationOn Tennessee Multicultural Chamber of Commerce, call Sherrie Gilchrist at 265-0021 or visit www.chattanoogaacc.org.On the Chattanooga Chamber of Commerce, call 756-2121 or visit www.chattanooga-chamber.com.
“It’s been really tough for businesses, but all of them are seeing signs of stabilization,” said Mr. Marston after talking with six local minority business owners recently.
However, Ms. Gilchrist said business owners are still cautious about making new hires or expansions too soon because banks have become even more restrictive about giving out loans, she said.
Tera Johnson, owner of Radiant Salon, said the recession is no different from any other obstacle that a business owner must overcome.
“It’s more like a stepping stone than a recession,” Ms. Jackson said. “In order for us to get better, God puts you in places that you need to grow.”
She opened her shop in April 2008. She employs two other stylists and wants to have a technician for manicures and pedicures at the shop before the end of the year, she said.