In downtown Columbus, minority and women-owned businesses are getting a new lease on retail life. The Ground Floor Growth Initiative is catapulting enterprises like Three Bites Bakery and Black Kahawa Coffee into storefronts on High and Broad Streets. Isabella Bonello, owner of Three Bites Bakery, expressed her gratitude for the program's support; "it's cool to find programs that are willing to support our demographic specifically," she told Spectrum News1. Bonello's and other participating businesses benefit from subsidized rent, renovation funding, and technical aid to kickstart their operations in the heart of Columbus.
As the November elections draw near, businesses are warily watching the tax and tariff talks that could significantly impact bottom lines. Concerns have been primarily raised by Vice President Kamala Harris's proposal of elevated corporate taxes, including stricter regulatory oversight, and Former President Trump's intent to increase tariffs even higher possibly. Jared Pincin, an associate professor of economics at Cedarville University, pointed out that "there's all kinds of uncertainties, certainly higher cost," in a statement obtained by Bay News 9. Companies are preemptively adapting to counter uncertain fiscal futures, with some reevaluating their supply chains to mitigate potential tariff hikes.
Despite the economic anxiety, minority-owned enterprises like Black Kahawa Coffee are seeing significant gains from city-backed programs. Owner Douglas Buckley, a Columbus native, highlighted the importance of such initiatives for the local community. "I love how the city is bringing together business professionals who are providing support to entrepreneurs and also bringing diverse businesses to downtown and kind of allowing them to be part of the revitalization of downtown," Buckley said to Spectrum News1. This encouragement helps revitalize downtown Columbus and supports minority entrepreneurs in these economically turbulent times.
Amidst these community strides, the business sector remains tentatively apprehensive about policy changes. Pincin expressed that his policies remain a comparatively known variable given Former President Trump's previous tenure. However, Vice President Harris, he opined, could be seen as more unpredictable without precise policy specifics revealed thus far. "So businesses are going to keep an ear to the ground," Pincin explained to Bay News 9. This expression reflects a broader sentiment among companies facing potential alterations in the fiscal environment post-election.
