Our City Needs More Businesses and We Need to Help

Hartford is still reeling from the recession and there is no way to get around that. These are very difficult times, especially for the city's retail market. A few notable closings downtown over the last few months have included Tanuki (88 Pratt), Pocket Wireless (Union Place), McDonald's (185 Asylum), Fiona Stone (73 Pratt), and Dulce (100 Trumbull). These closings are significant for a variety of reasons but that is not the purpose of this article. Though I must mention, it is not good if our downtown cannot retain a McDonald's that had been around for 25 years. The purpose of this article though is to show that we are doing something wrong and that there is opportunity out there for entrepreneurs to open up shop in the city (and especially downtown).

Hartford is not alone in seeing business closings. A few miles up the road from downtown is West Hartford Center which has seen a few notable closings as well. Just this week it was announced that Bookworm would be closing and that Bennett's Card and Party Emporium had closed. In recent months Allen Collins, Front Street Bistro, and Mediza join the list of establishments that had closed.

At the same time I am not to worried about the closings in West Hartford Center. The former Front Street Bistro (and/or Mediza) has been turned into Ruebens Deli which is always bustling and an Irish pub will be opening next door. A spa and salon is moving into the former Allen Collins. I do worry about the vacancies in Hartford because it is difficult to attract retailers to Hartford because of the demographics. But there is no reason Hartford can not try harder to help small businesses open in the city. Small business do not always follow demographic trends like national retailers. Imagine if that new Ruebens Deli or Irish Pub had opened in a vacant space downtown. That would have been two less vacant storefronts.

Many may disagree with this but incentives are needed to draw retailers back to our city. First, private property owners with retail space to rent must get it in their heads that they have to lower their rents. This is one of the reasons many do not open up shop in the city. Major property owners believe they can still ask for astronomical rents in this economy. By lowering rents or offering some sort of incentive where maybe one month is free we will create potential for small businesses. Simply by doing this we are letting entrepreneurs know that Hartford and its property owners are putting out the welcome mats. Lowering rents may also attract more corporate tenants, something that is always welcome.

Second, I feel the city must find money to help get businesses to come to the city and to stay in the city. I am sorry but Hartford must start bending over backwards for current and future business owners. The city's economic development division does a great job of helping potential business owners. They discuss their business plans with them, assist them in obtaining applicable grants, and in actually opening up their business. However, many people are not aware of these services. On another note I support the city offering money to someone willing to open up a grocery store downtown. I support business tax cuts for a certain amount of time until the business has proven to be self sufficient.

What I am getting at is we must do more. There are people out there willing to open businesses. Our job must be to find them and help them make their dream a reality. And make that reality happen in Hartford!