Some Richmond Businesses are Succeeding in Recession

Some local businesses in Richmond have made some changes to keep their business alive and strong during the recession, according to NBC12.

This is great news for area homeowners because strong businesses help support the local economy, provide jobs and contribute to the tax base which helps keep property taxes from increasing.

"The recession has made it rough for local businesses. When businesses struggle, we often hear about layoffs. But many local companies made other strategic changes that have helped them to survive, and some to thrive. Here's a look at some of the changes that paid off.

At Leo Burke Furniture, they cut every expense they could and rented out part of their store to another store, Goodwill's Second Debut.

'We vacated that space,' said Jack Burke, owner of Leo Burke Furniture. 'That certainly helped to reduce our costs.'

And Burke started selling some furniture on consignment. 'People started asking us if we would take some of their pieces on consignment and we've done that. That worked out beautifully for the consumer. It's worked out fine for us,' he said."

Read the full story.

Posted on Wednesday, December 16, 2009 - 10:50pm