As the final champagne toasts of 2023 dissipated, some businesses in San Antonio had little to celebrate, with doors closing and hopes of staying solvent diminishing. According to a report by KSAT, local shops like Jimenez Panaderia have faced a grueling climb, buffeted by a pandemic, followed by, the specter of persistent inflation. Frank Jimenez, the owner of Jimenez Panaderia, remarked on the daunting situation, stating, "We just felt like, you know, a lot of course, everyone’s trying to stay afloat."
Despite Wall Street’s relative optimism for an economic upturn, Main Street businesses continue to wrestle with the fallout of rising costs. Broc Dyson, managing partner of 2 Pees in a Pot, expressed concern about the impact of a shrinking market, and the undeniable uptick in basic expenses. "The basic average costs have increased," Dyson told KSAT. Dr. David Macpherson, an economics professor at Trinity University, provided a grim forecast, noting that "2008 is probably not likely, but some sort of recession is more likely than not." Macpherson emphasized the particular vulnerability of small businesses to inflationary pressures.
This vulnerability was starkly illustrated by the recent closure of the once-popular San Antonio restaurant Sangria on the Burg. Owner Ceasar Zepeda cited "rising cost of supplies and declining sales" as the reasons for shutting down the establishment after seven years. In a statement obtained by KSAT, Zepeda said, "A lot of them wanted to come today specifically, on the last day. To be here from the beginning to the end."
Even in the face of such closures, local economic leaders urge the community to support small businesses year-round. Jeff Webster, CEO and president of the Greater San Antonio Chamber, emphasized that the need for a shopping small mindset does not cease after the holidays. "They don’t shut their doors December 30th and wait till next November or December. We’ve got to keep supporting these guys," Webster explained to KSAT. Despite the current hardship, Zepeda remains hopeful, revealing plans to reinvent his restaurant concept in the coming year. He told KSAT, "We’re pivoting to a new concept, and we’re excited about it."
