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Local June retail Business nearly dead

Many local business owners are struggeling to keep up the office rent and wage payments, and many are currently making a loss or just braking even.

Several factors are negatively affecting the lacking number of customers for local traders in the Sosua / Cabarete area. 1) Many residents have gone back to their home country’s either for vacation or to try to make some money. 2) The high taxes on airfares to Puerto Plata puts turists off chosing this area as their vacation destination. 3) The financial crises felt in USA, Europe and other countries, is also having an impact on people deciding not to even go on a vacation. 4) The long-term problem of local traders performing shady business has given the area a bad name resulting in many investors and entrepeneurs going elsewhere with their hard-earned cash.

So more than ever, business owners need to be creative and diversify in order to survive financially and to get ahead. Clint eastwood once expressed how to win through tough times “Adjust – improvise and overcome!”. By finding creative solutions to challenges during hard times, can often help businesses find new winning edges that makes their businesses boom when the market place becomes healthier. Often financial survival can be a matter of simply chosing a different service, product or industry with something the market now prioritises. (The editor)

Category: DR News |

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Last updated December 6, 2016 at 12:34 PM
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