Small businesses feel heat from energy costs
Rising energy prices have had a negative effect on 72 percent of small businesses in Colorado in recent months, according to a report released last week.
Energy costs are likely to blame for an overall decline in small business market conditions, according to the Colorado Small-Business Conditions report.
The report is published quarterly by the National Federation of Independent Business.
Only 45 percent of the businesses surveyed said sales were “good” in the past three months, down from 52 percent three months ago.
The report, which is based on phone surveys of at least 350 businesses, said purchase prices are on the rise for 59 percent of small businesses, but selling prices have increased for only 21 percent.
“Small-business owners have to be experts at managing budgets and finding creative ways to handle unexpected increases in overhead costs to survive and compete,” said Tony Gagliardi, the federation’s Colorado director.
“It’s understandable that huge increases in gas and oil prices would make business conditions more daunting.”
Bank celebrates remodel
First National Bank of the Rockies will host a grand re-opening of its Craig office Thursday and Friday.
The bank recently spent $1.5 million on remodeling its office, 600 Yampa Ave.
It was the bank’s first major renovation since 1973.
“Craig is an important branch office for FNBR, and this modern facility is one way we are saying ‘thank you’ to our loyal customers here,” Craig manager Todd Young said.
During the two-day grand re-opening, community members can sign up to win several items, including savings bonds, a DVD player and a TV.
Company promotes coal
The owner of Twentymile Coal Co. kicked off an information campaign about the benefits of the product it sells.
Peabody Energy’s “Yeah, Coal Can Do That” campaign will run through 2006 and will point out the many uses of coal, including coal-to-gas and coal-to-liquid technologies.
Peabody Energy, which owns Twentymile Coal, is the largest private sector coal company in the world. In 2004, the company sold 227 million tons of coal and posted $3.6 billion in revenues.
Brandon Johansson can be reached at 824-7031, ext. 213, or firstname.lastname@example.org.
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