Small Businesses Feel the Effects of the Slump in Spending
By 2 pm, Pitkin Communications had only serviced three customers from the moment the cellular phone store opened at 10 am. The customers came in to buy minutes for their cell phones; a transaction that only brought in five percent per card and did not, by itself, help meet business expenses. To make sure that they could pay the overhead, the business owners, George Wolinsky and his wife Daisy, have stopped going out to eat and on this day they ate leftover soup.
“I told her to dress warm,” said Wolinsky, who had a $400 dollar electric bill the previous month. “Because I wasn’t going to turn the heat on.”
suffer from a decrease in consumer spending.