Nation’s Economy – Greatly Affecting Small Businesses

six decades, there are many businesses that are tremendously affected, but go unnoticed~A large number of industries and small businesses are suffering indirectly because of this nation’s economic recession~The largest recession that U.S. residents and companies have seen in the past 40 years continues to indirectly affect many small businesses}.  The housing market and stock market have been some of the most talked about issues, while the banking and loan business trails a close second.  Many of these markets are inter-related in some way, but many major industries that affect millions of home owners are not far off.

Homeowners will concur that the housing industry has taken a huge blow, and the property values in Phoenix, Arizona lies at the epicenter of impact.  These buyers all have property that has greatly depreciated in value over the past 2 years (sometimes being down hundreds of thousands of dollars).  Home foreclosures are on the increase, repossessions are common place, and people are just walking away from their homes because of loss of home equity. 

For those owners who are not affected by unemployment, housing market decline, and stock market woes – they quickly find out they are incorrect.  When most homeowners desire to make enhancements to their properties, they may need financing or some sort of financial loan.  Local banks and credit unions can usually provide this type of home improvement loan.  Swimming pool, landscape, and home improvement companies have not had the fortune of getting it’s potential buyers approved for these financing programs.

The swimming pool industry in Phoenix has been one of the largest industries influenced, since financing a swimming pool was the clear choice for over 70% of pool and spa customers.  Financing enables buyers to invest the money they desire into each project, and without a loan, buyers simply spend much less or don’t buy at all.  Arizona pool companies have suffered tremendously with the decrease in the economy and lack of financing – sometimes even closing their doors, down-sizing, or diversifying into other venues.  Motivated pool and spa companies have expanded into other venues such as pool remodeling, general construction, and even landscaping.  General contractors have entirely gone into other fields, such as sales, marketing, or consulting.  Arizona Landscaping Companies are starting to offer other popular landscape features such as travertine patios, waterfalls and ponds,  Phoenix patio covers, and mist systems – anything to generate extra income.

One pool and landscaping Phoenix company, Unique Landscapes and Custom Pools, has figured out the technique of offering many varying products to potential clients years ago.  As a Phoenix pool builder, licensed general contractor, and landscaping contractor, Unique is able to offer their clients many different options when it comes to home improvement.  By offering many different aspects of our swimming pools and landscape services to our clients, we’ve been able to generate revenue during these difficult times – simply by diversification.  However, the major challenges have been the simple fact that these financing programs are simply not available to the average customers.”

“It’s difficult to think about all the money that was given to banking industry just a year ago for these construction loans, and now it’s difficult for our customers, who want to buy our products, to get this assistance” claims business owner Chris Griffin, of Unique Landscapes and Custom Pools in Mesa, AZ.  Maybe it’s time for the government to look a little further into some of the struggles of the smaller companies that are greatly affected by this struggling economy.  “Pool financing in Phoenix is getting better” remarks Griffin, “I can’t quite see the end of the tunnel, but I can faintly see the light”.