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Small Business Administration’s Bridget Bean on the economic impact for Washington, DC metro area
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All right rigid -- joining us now from Washington DC you're the director of the Small Business Administration Bridget hi welcome to the show.
-- humor you know I can imagine your very busy.
It's a busy time Andy aren't an exciting time yeah it definitely especially for small businesses how are they prepping for an operation.
Well they've been doing it for months this is something that they've been planning for for over -- year.
Everything from their marketing plan -- making sure they have the right inventory and making sure that they got clients.
That they know.
That they're getting the word out about their business their product -- service.
You know back in 2009.
Hotels side 98%.
Occupancy rate what are we looking at this time around.
If it.
Hello -- around 95%.
To and it's picking up actually.
And hotel rooms are going for about five times as much as they normally -- -- that's really good for that the hotel industry.
But how come how is that with the number of people.
Attending.
The an operation this time around so much fewer than 2009.
Right we're saving about 800000.
People coming to the district.
But you couple that with the Martin Luther King Day celebration I think the day of service.
It's really doing.
An exponential growth floor for the for the weekend.
-- you lump in my -- it's -- you have here that.
The inauguration is on par with Christmas in terms of sales I thought that was -- -- in Paris think need to stop and take us through what you mean by that.
-- -- see you know what all of the to the vendors across the country gear up for Christmas sometimes I'm.
Businesses can earn -- -- -- 70% of their entire annual gross revenues.
Over the holiday season.
The inauguration for small businesses in the district and they surrounding county.
Also see that kind of of the war.
The inauguration weekend.
OK and you say that on the typically.
Store would have about it funny day inventory quantities of clients stock what about this time around that's -- The right it's very common practice to you have inventory -- demands they can't keep a large inventory.
But for the inauguration day they're really gearing up for about sixty days worth of inventory -- an influx of people in mind to make sure it.
Capitalize on this opportunity and have a -- Inventory to meet that demand so it's an exciting time and it's not just in DC but we've got Montgomery County Prince George's County.
The wineries -- according to -- yesterday that they air.
Seeing and in an increase in.
People coming out the -- hello counties -- really having a widespread effect in the greater Washington.
Larry I'm glad he said that -- you automatically think okay fine hotels and restaurants but there are so many other industries that are seeing a pop like wineries what else would you.
-- -- -- You know I can't a couple of my favorite.
Small business restaurants and it was interesting when it thinks they -- Sunday nights are usually done and they let a lot of stuff don't have -- they had -- at 9:10 o'clock last night.
Fairfax Falls Church Bethesda.
The local shops -- main street they're really seeing a lot of foot traffic.
So the museums -- -- and a small businesses -- in the restaurants are open.
There was a huge fashion show on gun you know because DC becoming one of the fashion capital of the country and the world.
And so they had a fashion.
Show on Sunday and some of those small business the cheeks in DC are seeing a lot more click track.
Why is DC becoming a fashion capital -- world.
We have a lot of very creative.
Designers who have decided to.
Organically grow their businesses are moving to the district we've got a huge hospitality industry.
And the clothing and that uniforms they want to reflect the creativity.
-- -- It's just a great place to start a business thing that launching metropolitan area is really very healthy place to start a business integrated ecosystem support.
And the fashion industry is just really booming here.
-- if we look historically it's it's known that the second term that inauguration is typically scaled back compared to the first and makes sense but can you give us an idea how much scaled back its expected to be your has been in years past.
You know it's an interesting observation.
We -- expect it to be about 60% at 2009.
But it's you know that sometimes.
There's a confluence of events and the weather really has held out -- as we thought there might -- now it has been a gorgeous weekend.
A lot of people who live here have hadn't gone downtown they decided to go downtown when they didn't plan to.
So it's we're looking I think we're gonna see a really big turnout.
Larger than we expected but it's smaller than 2009.
Bridget what is that -- -- in -- right now.
It's a gorgeous day in you know that it's it's certainly kind of weather but it's yesterday it was beautiful list -- sun is out now and it's just it's a great day to celebrate such a historic.
-- -- -- -- thank you so much -- being a Small Business Administration.
Director.
In the district thanks for coming on I have a bunch of friends in in DC fight for the inauguration.
-- and time yesterday they walked around -- all the monuments and it was so crowded that they had -- exhausted and and beat by the end of the day.
That's the sign up that it was time incidentally we hope they enjoyed our city yes thank you so much predicted luck.
Thanks learn have a great day and --
