IN THE SPOTLIGHT: A visit from the Commerce Secretary and Lt. Gov, Focus on small business

On Tuesday, Oct. 15, Florida Secretary of Commerce Alex Kelly came to Boca Grande to help local businesses ruined by Hurricane Milton. The Beacon discussed the importance of small businesses to not only each local economy, but overall tourism. While here, he saw damage from Milton and Helene, and toured Hudson’s, Scarpas, Key Lime Bistro, the Boca Grande Fire Department and The Gasparilla Inn. A few excerpts from his remarks as he toured Boca Grande.

Boca Beacon: Why the concentration on the mom-and-pop businesses for the coastal communities?

 Kelly: Statewide, about 99.8 percent of businesses in Florida are small businesses. And you really see, when you go to the coastal communities, you do see a large concentration of businesses that probably have five to 10 to 20 employees. If you think about a lot of restaurants, a lot of shops that do rental equipment for boating and fishingrelated activities.

I’ve been through coastal communities from Taylor all the way down to Lee County. It is a large concentration of small businesses, the kind of businesses that operate on a low margin. They love what they do, they’re working their passion, but in a situation like this, they need support because they don’t typically have a lot of capital in the bank. They don’t have a lot of additional assets.

You’ve got people who, you know, one storm might make them dip into their savings; two storms, it’s a real challenge for them, if not a bigger challenge. So it’s really critical that we get out and get resources to them.

The governor deployed $50 million for small businesses impacted by Hurricane Michael, and $15 million for businesses impacted by Helene, so that’s $65 million. We’re going to use all of that to help these small businesses because they need just that safety valve to help them get back on their feet, whether it’s cleaning the store, paying their employees while the store is closed, or maybe they’re going to apply for an SBA loan, but they need to bridge their way to that. Or even if it’s just to have $50,000 in the bank, so they have a little comfort room, a little wiggle room in terms of operating.

These are zero percent loans; they give that business immediate capital within two to three days, very quick process, and it just gives that business owner some immediate operating capital so they can still pay their employees and clean their store while they figure out what to do, figure out how long they’re going to be closed.

Obviously, we’re here. We’re seeing some completerebuilds, and we’re seeing some situations wherestore owners are having to basically get rid ofeverything in the store. Maybe the bones of therestaurant or store are good, but everything insidehas to come out. That’s expensive. These kinds of dollars that the governor deployed can help the restaurant owner, the grocery store, and the business owner replenish the things inside the store, get back on their feet, get back to operating, and serve their community.

Boca Beacon: Why is the little business so important for the tourism mix in Florida?

Kelly: Little businesses are important really for everything, ‘cause if you think about it, every large successful company started with a little dream. But I think it’s really true, particularly when you talk about tourism. A lot of these smaller businesses – people love that local restaurant, that local boutique hotel, that local rental shop that rents out surf, fishing, or sailing equipment. People love those local stores. They love that feel of coming into a community that’s really charming, that has a number of small businesses. The people who own those businesses are from this community. They live here, their family is here, and they’re really part of the community.

They’re not just somebody who’s trying to make a living, which is great, but they’re really part of the community. I think when people come on vacation to places like Boca Grande or other communities like this, they want to feel what’s truly unique and special about that place. They want to talk to business owners who are from here. Their businesses seem like they’re part of the special story of this community. It’s critical to support those businesses that help tell that special story. That’s true in so many coastal communities throughout Florida, but each one is unique.

Find out more:

• About the visit, and loan info HERE.