BY JOVANNA AGUILAR, EMILY LINCKE & LIZZY SPANGLER
Local businesses affected The establishments listed below were identified through a Community Impact analysis of local businesses. This list is not comprehensive.
Zooming in
What’s next
Journey Justeen’s Boutique closed its Tomball storefront Dec. 16, transitioning back to an online- only business model. Owner Amber Latu said needing time for her personal life, finding employ- ees and the economy contributed to that decision. “It was really hard for people to come spend money on really anything,” Latu said. Since Miya’s Munchies transitioned to pickup only, Sumiyyah Harvey said the business was able to free up resources, such as labor and time. “Making the decision to close our storefront definitely saved us,” Sumiyyah Harvey said. SuperBurgers of Magnolia’s economic measures include cutting costs and managing cash flow. “We have started managing our cash flow by carefully managing what’s coming in and what’s going out,” Adan and Dreama Munoz said in an email. The SuperBurgers owners said this allows them to budget their inventory needs and have more funds to reach consumers with better deals.
Jankowski said although the economy is expected to be slower in 2024, this is relative since 2021 and 2022 were strong years for economic growth after stagnation during the onset of the pandemic in early 2020. Meanwhile, after fighting for two years to ease inflation by increasing federal interest rates, the Federal Reserve’s board of governors decided not to raise them in mid-December, according to a Dec. 13 news release from the board. However, it’s unknown whether interest rates will decline in 2024. Lower interest rates would be especially beneficial to small businesses, which have slimmer operating margins, Jankowski said in a Dec. 18 email. “If the Federal Reserve does lower interest rates in 2024, that should provide some relief to local businesses and help them to stay viable,” Jankowski said in the email.
Closed permanently
Antiques at Rosehill
Closed in late December
Cajunville
Closed in late February
DaVinci Artists Gallery
Closed in June
Tressie's Southern Kitchen
Closed in late October
Tropical Sno of Tomball
Closed in late December
Scaled-back operations
Journey Justeen’s Boutique
Closed storefront in late December 2023 Closed storefront in late April 2023 Changed to pick-up only in late 2023 Converted to mobile loca- tion in September 2022
The Market
Miya’s Munchies
Woodall’s Bar-B-Que
SOURCE: LOCAL BUSINESSES/COMMUNITY IMPACT
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TOMBALL - MAGNOLIA EDITION
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