Winslow in need of business leadership to improve local economy

Do you wish Winslow had more to do? Everyone says they want more entertainment, retail and restaurants in town. Well, this is not so much the city if Winslow's job to make it happen as much as it is the responsibility of the residents of Winslow.

You can start your own small business now and the Small Business Development Center is here in Winslow to help walk you through it.

Winslow resident Jessica Stago is a small business analyst working for the Small Business Administration in coordination with Northland Pioneer College. Stage serves Winslow, Holbrook, and surrounding areas on the Navajo and Hopi lands.

Stago is a young Apache and Navajo woman with a Masters Degree in Business Administration. She was born and raised here and said she wants to do all she can to help Winslow by working with residents who want to help Winslow through economic means to help this community become that place many remember.

This movement has got to start somewhere. Stago approached the Winslow Chamber of Commerce last March about beginning regular business development workshops for community. She said she was asked to join the city of Winslow Economic Development Committee, but has not heard anything back from the City yet. Last April, Wells Fargo, the Chamber, La Posada and Stago hosted a banking and financing workshop that was poorly attended.

"I have not had any response from Native Americans in Winslow," Stago said. "They get discouraged by knowing they have no money. I can honestly say that everyone has a chance, but that depends on the ideas and hard work put into it."

Stago says to these people who always say "I can't:' ­ 'You have to get out of your comfort zone."'

If you want to start a business, you don't always have to jump right into it with a great plan and support from the SBA to get a large bank loan. Stago explained some simple economics that may help many people get a business started. Those just out high school should pay attention to the following advice as well:

1. Write-down everything you spend money on. If you do, you will find your money is easier to manage.

2. Every week, do you drive to Flagstaff and spend about $200? If you are spending money you do not have you may get yourself in trouble. Bad credit is hard to fix.

3. The easy secret to having good credit if you have none: Buying cars, homes and property is the best way, but difficult if not impossible for many people. If you cannot or do not want to make these large purchases you may start with a credit card, Stago said.

She said to get a credit card and make your purchases with it, but not too many! Don't go out and buy a 54-inch flat screen television. Stago said to make your normal daily purchases with the credit card, and keep your monthly balance at an average of $300 a month debt. Continue to pay off your credit card as you once did before with you bank account funds and or paychecks as you did before the credit card. The only difference is the bank is charging an interest rate, which may be considered high, but if you maintain your payments and keep your balance at $300 it will not be too bad. A $300 average monthly balance with a high interest rate of say 20 percent will only cost you about $60 for the whole year. Stago said if you can keep your credit card debt balance at owing $300 a month for one-year then good credit can be established. Be aware that if you let your credit debt get into the thousands then you will be too deep in and it will reflect poorly on your credit score.

Whether of not credit is an issue, Winslow needs to think of a business plan.

"This is a good idea because visitors drive through downtown Winslow and it is not good for them to see empty and boarded up shops," Stago said.

Christine McCoy, local Winslow resident and Arizona Lottery winner, is being helped by Stago to fine-tune her downtown antique business "Welcome Home," formerly "Home Sweet Home."

McCoy said some locals have accused her of buying out the old business and drastically increasing the prices of the merchandise, when in fact she said she left the old prices on the items.

"I bought this business because I did not want to see another downtown shop close-up," McCoy said.

As for possible reasons why Winslow's has suffered economically, Stago said that Winslow been focused on tourism for too long and that is why everyone ends-up driving to Flagstaff.

"The city of Winslow should have some responsibility to encourage a healthy economy," Stago said. "But it is the business community that needs to get together and come up with ideas."

She said it would help if downtown looked more like a business district by having more cohesive types of business. She recommended a that a plan be developed.

The Northland Pioneer College Small Business Development Center and the Winslow Mail plan to hold a business development workshop in late July. For immediate free help from the Small Business Development Center, call (928) 524 ­ 7372 or e-mail jstago@hotmail.com

Donate to nhonews.com Report a Typo Contact
Most Read