Downtown SBY entrepreneurs seeing business slow

SALISBURY, MD. – Entrepreneurs in downtown Salisbury are seeing slow business.

“It’s generally been soft so far this summer,” said Bill Chambers, President and CEO of the Salisbury Area Chamber of Commerce.

It’s the third quarter of 2024 and Bill Chambers says businesses in Salisbury are not seeing much change since the pandemic of 2020. Restaurants on the downtown plaza say they aren’t seeing many people patronize their business. “Some business owners tell me it’s the weather when it’s hot, the way it’s been the last two months. People stay inside and that doesn’t mean they go inside to eat. They stay home and inside,” said Chambers.

Chambers says the heat and other national economic issues are causing business to slow as people hold their money closer to their chest. “So people, along with interest rates being ridiculously high, inflation is still a big concern. So it’s gasoline. People are spending judiciously. They’re doing what they need to do, but they’re they’re making more choices in how they spend their money,” he explained.

With business being slow, entrepreneurs may be tempted to borrow extra money, something Bill Chambers advises against. “Don’t borrow money. Hang in there. Cut costs as much as you can. This is not the time. When things are slow and you need to take up, you need to keep your business out there in the forefront of consumers’ minds,” said Chambers.

Chambers says it may be hard times now but there’s no telling how long these issues could last because the Fed is taking its time reducing inflation. “I don’t think the Fed is going to cut interest rates this year. I don’t think they’re going to get inflation where they need it. So, I think you’ll see no interest rate cuts from the Fed,” said Chambers.

Bill Chambers says it’s unfortunate because as the USSSA tournament approaches businesses expected more sales and that is not what they’re seeing.