- According to the Georgia Chamber of Commerce, households and businesses in Georgia are spending an extra $4,157 a year due to price hikes and inflation.
- Despite the growth of new business openings, small businesses in Georgia have seen a net decrease of 24,234 jobs.
- Watch the video to see how Valdosta businesses are adjusting to rising costs.
BROADCAST TRANSCRIPT
Most Georgians have been feeling hits to their wallets.
According to the Georgia Chamber of Commerce, households and businesses alike are seeing an extra $4,157 dollars in price hikes and inflation annually.
"We just been making adjustments like everybody else... inflation been sky high."
I'm Malia Thomas, your neighborhood reporter here in Valdosta.
I'm checking in with local businesses to see how they're staying afloat.
If you've driven downtown in the last 13 years, it would be hard to miss Stacey Griffin's shop, The Urban Garden.
"I think the Urban Garden is so rewarding just being able to play outside, playing in the dirt and watch something grow."
Stacey tells me something he likes about operating downtown is being able to build a rapport with his fellow neighbors.
"You see a lot of the same people, make friends with a lot of people, have a lot of routine customers coming by."
He, like many businesses, has noticed the rising costs of staying afloat, like property taxes and inflation on materials.
However, his business model gives him unique ways to cut costs.
"We actually grow our own products, so we're able to control some costs to some degree."
Other businesses haven't been so lucky.
The Inflation Rate in Georgia increased to 2.20 percent in June. That's up from 2 percent in May.
Despite the growth of business openings, small businesses across the state have seen a net decrease of 24,234 jobs.
"The biggest thing that we're always gonna do is advocate for a strong local economy."
Christie Moore is the president of our Chamber of Commerce.
She tells me businesses here have been growing, but expenses left unchecked do have consequences.
"As certain costs increase, that can often mean that you are going to have less staff. It means maybe that you decide to have less retail space, maybe you decide to go online instead of being an in person store."
Which Stacey tells me neighbors can help avoid if they shop local.
"Just come downtown if you haven't been in a while. See the restaurants, the retail stores, and maybe the Urban Garden haha."
One way you can support our local businesses is by coming to the Downtown Sidewalk Sale on August 10th, where businesses here will be marking down goods to make way for new inventory. In Valdosta, I'm Malia Thomas, reporting for AB27.
