( 4UMF NEWS ) Ferguson Is Still Struggling After Protests:
As the Ferguson community tries to heal after the shooting death of Michael Brown, so do the businesses in the areas hardest hit by the protests and looting that happened in the aftermath.
“Nearly half of the roughly 500 businesses operating in Ferguson and adjacent communities, such as Dellwood and Jennings, suffered property damage or lost revenue as a result of the unrest, according to the regional development association, North County Inc. Sixteen businesses closed. Seven of those have yet to reopen, while four have relocated, according to a city tally,” writes The Wall Street Journal.
Many of the small businesses in and around the Ferguson area don’t have cash on hand to sustain them, carry a few thousand dollars debt and, according to the Journal, are lacking in insurance, which would help with the rebuilding effort. Even loans that had been offered by the Small Business Administration didn’t yield very much money to businesses. Many owners had bad credit or couldn’t afford the repayment.
Even things like adequate sidewalks that attract foot traffic is lacking. Even if the infrastructure was there, some business owners say potential customers (and even existing ones) are avoiding the area now.
Local lenders and microloans have been far more successful. but still, there’s much to do.
“The St. Louis Economic Development Partnership is preparing a marketing campaign to help burnish Ferguson’s post-shooting image,” says the WSJ. “Mayor Knowles said the city has pushed to clean up physical damage, help organize small businesses and jump-start future development.”
We’re pulling for the city certainly. Do you think Ferguson will make a comeback?
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