The president of the Delaware County Chamber of Commerce
sees some positive signs that the economy is improving, though he admits it
will take time for all businesses to recover.
Mike Brady, a financial planner, said during a July 14
chamber sponsored “Coffee Connections” meet and greet, that larger
manufacturing companies are now reinvesting in themselves.
“They’re spending money again. As we come out of this, there
are leading indicators and lagging indicators. The leading indicator is
spending by large businesses. The reason being is that it’s easy for large
businesses with a long history to get credit. It’s very difficult for small,
local businesses, newer businesses to get credit from banks,” Brady said.
“Larger businesses with a great standing are able to go
borrow and invest, and they are now doing that. What you’ll see, as that
trickles down through the economy, the smaller businesses will benefit and
then, finally, the retailers will be the last ones to see people come back
through the doors, buy again, shop again and spend money again.”
Brady expects retailers to see their businesses improve
within the next 12 months. Even though money is beginning to flow again, he
said, consumer confidence is still low.
One of the things driving the recovery, Brady said, is that
many of the people whose companies have offered early retirement, people in
their 50s, are starting their own businesses.
“Instead of sitting in a rocking chair, they’re doing
whatever it was they were dong on the weekends that they were passionate about.
They’re doing it as their second life job,” Brady said. “They’re opening that
small business and taking a shot at the American Dream.”
He said 70 percent of all new hires are by small businesses.
The chamber’s goal is to continue adding value to membership.
Brady said the idea is like a three-legged stool with every chamber action
designed to serve at least one of those legs.
“Everything the chamber does must involve one of the three
following things for businesses,” Brady said. “Either great networking opportunities…education
for small business owners and employees of our larger business members…advocacy
for businesses at the local, state and federal level.”
Brady said every employee of a chamber member is a member
also. He added that the chamber does not endorse politicians, but it does
endorse specific pieces of legislation. The chamber will also come out against
a specific piece of legislation if it thinks it will be a “job killer.”
About Rich Schwartzman
Rich Schwartzman has been reporting on events in the greater Chadds Ford area since September 2001 when he became the founding editor of The Chadds Ford Post. In April 2009 he became managing editor of ChaddsFordLive. He is also an award-winning photographer.
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