BUSINESS + ECONOMY
Small businesses closing in Salt Lake, another opens a GoFundMe
Dec 13, 2022, 4:00 PM | Updated: 8:39 pm
The Downtown Alliance blames inflation, the cost of labor, and the overall cost of doing business as reasons for the closures.(Canva)
(Canva)
SALT LAKE CITY — Multiple small businesses in Salt Lake City have recently announced that they are closing. And the owners of another have opened a GoFundMe account with hopes of keeping their doors open.
Brownies Brownies Brownies and The Big O Doughnuts have both announced they’ll be closing their doors. The Big O doughnuts said in an Instagram post that the problem isn’t customers but “we would have to charge $10 a doughnut for this business to work.” A café, Old Cuss, is trying to stay open with a GoFundMe* to help keep them afloat until they can get more funding.
The small business owners said in the post, “it is the most humbling thing that we have done but we want to let you guys know before it’s too late.”
The Downtown Alliance Executive Director Dee Brewer said, “There are some beloved businesses who are closing. They are citing inflation, the cost of labor, the cost of doing business. That’s been a big issue for small businesses and for all businesses.”
Brewer continued that he recognizes, “the difficult task it’s been for small businesses confronting the inflation that we are. I think that as those retailers cover their costs and pay their labor charges we as consumers can be expecting to pay a little bit more.”
Brewer said the cost to do business is high right now. At the same time, 29 businesses opened in the last year. “There are a lot of businesses opening as well. There’s a lot of opportunity downtown.”
*KSL NewsRadio does not assure that the money deposited to the account directly benefits the persons named as beneficiaries. If you are considering a deposit to the account, you should consult your own advisers and otherwise proceed at your own risk.
