clock menu more-arrow no yes

Filed under:

Brooklyn Businesses Are Not Breaking Out the Champagne

New, 2 comments

The news that things kind of suck right now for Brooklyn businesses and that 2009 is scaring the stuffing out of them comes from no less than the Brooklyn Chamber of Commerce, which is in the business, generally, of happy talk. The press release is titled "Brooklyn Businesses Have Somber Outlook for 2009" and says that its survey of Brooklyn businesses "uncovered a generally grim outlook on the economy for 2009 and on Members’ feelings about business for the coming year." The biggest concerns listed are the cost of health care and energy Fifty-seven percent of businesses say they expect 2009 to be worse than 2008 and 43 per cent of business say they're having a hard time getting credit, have less liquid capital or have had a harder time paying bills or buying inventory. Interestingly, 78 percent of Brooklyn businesses say they don't expect to be laying people off, but 57 percent say they don't expect to hire anyone. "There is a lot of uncertainty out there,” says Carl Hum, chief executive of the chamber. “Even businesses that aren’t expecting falloffs are scared out of their wits. They’re just waiting for the other shoe to drop.”
· Brooklyn Businesses Have Somber Outlook for 2009 [iBrooklyn.com]
· Brooklyn businesses hit hard by recession [Crain's]
· Brooklyn Chamber: Business Outlook "Generally Grim" [Brownstoner]