Clearwater and St Petersburg Small Businesses on the Rise

Good news! The number of small businesses in Pinellas County is on the rise and expected to continue increasing over the next 12 months. We all felt that we saw it happening, but it’s nice to have it verified. And this is great news for Clearwater commercial real estate and other cities in our area.

A recent survey shows the Small Business Optimization Index rising by about 1.5 points. This is the highest increase since 2007. The study also shows that the percentage of small businesses that have applied for loans or credit lines and actually received them is up by 10%. These may seem like small numbers, but they’re not. They are encouraging signs.

Nationally, more and more small business owners are seeing sales increase and feel that this upward trend will continue. These national trends are also proving to be true here at home in the cities of Tampa Bay. Walk along the waterfront in downtown St. Petersburg and you’ll see the streets teeming with people shopping and dining. It’s the same story in downtown Clearwater, Dunedin and many other parts of Tampa Bay, which are seeing more economic activity, like completed commercial office leases and new store openings. All of this activity and growth will set the stage for the ‘trickle-down’ effect.

When small business startups and/or expansions increase in number and begin to thrive, commercial real estate is the next to benefit. The demand for office, retail and industrial space increases and the final result is that the vacancy rates go down and slowly but surely, things get back on an even keel. Good news for all businesses in Tampa Bay!