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New Hampshire store front businesses lag US store front businesses in overall growth

RBR Staff Writer Published 10 February 2016

All eyes are on New Hampshire today as it hosts the first-in-the-nation primary. However, beyond this single day, there is a growing economic trend shaping the Granite State. And it may not be the growth story that the political candidates are hoping for.

The latest Store Front Index TM (SFI), a collaboration between CAN Capital and PYMNTS.com, tells a story of a small business sector whose overall health appears to be on the decline, dropping 10 percent from this period one year ago. And, the overall growth of Store Front businesses in New Hampshire lags those of all U.S. Store Front businesses by 50 percent.

Store Front businesses are defined as those businesses that you would see lining the main streets and side streets of local communities - including coffee shops, convenience stores, dry cleaners, hair salons, home remodelers and hardware stores. SFI measures Store Front business health by examining growth in sales, employees and locations.

To better understand business sentiment on the streets of New Hampshire, PYMNTS met face to face with nearly 50 Store Front merchants. "My business is profitable but to make renovations, it's just not possible. So I don't grow, I make less money than I should," said one convenience store owner, who struggles to get financing from the shrinking pool of banks in his area.

Uncertainty over the economy and a general discomfort over "politicians who've never run a business" contributes to a general lack of confidence that any political candidate can fully appreciate the complexities of running a business that is also the heartbeat of the local community.

The next release of the Store Front Index is on February 24th - but details related to New Hampshire can be found here, as well as highlights from our conversations with New Hampshire Store Front merchants.

 



Source: Company Press Release