Small town economy

Welcome back!

Things don’t move real fast in our little town.  You won’t see cutting edge clothing, haircuts, or automobiles on main street (or anywhere else for that matter).  People there might try the “latest thing” but only after it’s been around for awhile.  Sometimes that’s a little frustrating.

But, sometimes that can be a good thing.  I stopped at the local Post Office to mail some packages last week and while I waited, struck up a conversation with Jim, who was waiting on me. 

“What’s the feeling about the bailout and how it will affect the local economy?” I asked, hoping to get into a good debate over what should or should not have been done by the banks.

Jim paused in stamping my packages, gave me a look and replied, “What local economy?  Walk down mainstream - we have two businesses and six bars.  Not much to affect here.”  We laughed at his joke and completed our business, but his comments stuck with me.

Will our town be affected by the financial crisis - absolutely.  Will it be as devastating as in other areas of the country?  Probably not.  There are no large employers in town to lay off large numbers of people.  Most businesses (there are actually more than just 2) are Mom and Pop operations or run with just a few employees.  The banks are locally owned and operated, not part of a national chain.  Business has been slow for years and the town has gradually dwindled in size as many of the town’s young people have chosen the bigger cities and better paying jobs over “staying home”. 

So, the local population has already learned how to do without a lot of the “extras” found in the bigger cities.  Social life revolves mostly around family and school activities.    Prices are lower, life is slower……sometimes that’s a good thing. 

Technorati Tags: small town economy, financial crisis, rural spending

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