Wilton business owners huddle amid economic crisis
Members of the Wilton Rotary Club gathered Friday to discuss new ways to run their businesses at a time of financial crisis on Wall Street and its effects on Main Street.
Most entrepreneurs who attended the meeting say they are keeping their ventures afloat for the time being, but they are not convinced the worst of the economic downturn is behind them.
Judy Wilson, the owner of a travel agency in Wilton, says although her company has been doing well so far, she is worried what spring and summer will bring. Wilson says in the current economic climate, people will be rethinking their vacation budgets.
?We're at the mercy of our clients? discretionary income,? she says. ?Once their discretionary income is threatened, we're threatened.?
Wilson?s sentiments were echoed by other business owners who came out for the meeting. Guest speaker Patrick Begos encouraged the crowd to focus on the fundamentals of good credit and sound business. He admitted, however, that he doesn?t have a magic formula to weather the storm.
?I just have no idea what I should expect to happen next week,? Begos says. ?I'm not sure if anybody does, and that worries me.?
Wilson says her 30 years of business experience give her an edge she hopes will get her through the worst of the financial turmoil.
?I think it gives you a sense of fortitude, and it gives you the courage to hang in there, because you know it's going to change,? she says. ?But I'm not saying that that doesn't provide [me] with a few sleepless nights.?