‘Local dollar means a lot’: Small business owner reflects on inflation hit

TOPEKA, Kan. (WIBW) -Small businesses are getting hit with inflation from every angle, and with Brew Bank announcing its closure on Oct. 23, downtown Topeka is no exemption.

“I think all of us are seeing a slow down of spending by customers,” Hazel Hill Chocolate Owner Nick Xidis said. ”It’s hard to really pin it down but to me, its insurance is twice, and the food is 20 percent more.”

Hazel Hill Chocolate has been on Kansas Avenue for over 20 years.

Owner Nick Xidis says his heart goes out to Brew Bank which opened their doors right before COVID-19.

“We’re a lot more established and can kind of ride these things out but if we’re just starting and we had all that start-up debt and all the stuff you load on when you get launched, we would be in deep trouble,” Xidis said.

Hazel Hill makes all its specialty chocolate in the shop. Most chocolate has three key ingredients but one has risen in price over the years.

“Historically, it‘s been a little less than $3,000 a ton, it has been as high as $12,000 this year, and right now it’s $7,000 to $8,000 a ton so cocoa is three or four times what it was a year ago,” Xidis said.

Supporting downtown when you can will help those who need your dime the most.

“I think we’re going to see a lot more small businesses, especially in the food and service, are kind of struggling to hang on as we’re going through that spending contraction,” Xidis said. “It’s really important for people to keep that spending local and look we understand if you’ve got to cut back but you’ve got to support your neighbors too right?”

Copyright 2024 WIBW. All rights reserved.