Clayton— With one of the most anticipated debates happening today, one small business owner says “I have never been so eager to watch the debates until now. Because for the first time someone that knows how to run a business is running for office.” Michael A. Colello, a very open Republican and Mitt Romney supporter is owner of Frontenac Crystal Springs, the only bottling water company in the area.
Frontenac Crystal Springs is a business that has been in the Colello family for more than 30 years. Colello says, stiff New York regulations and the cost of health care are just some of the costly reasons his business has had to take a new direction. Cutting debt and cost due to a competitive water business, slow sales, and high regulation costs- Mr. Colello was forced to take measures that would reduce spending. Selling water delivery routes in Jefferson and Lewis counties to distributors based in Watertown, Connecticut. Mr. Colello reached a deal with Crystal Rock Water at their regional Syracuse office, as Crystal Rock has been established since 1914.
The economy has been in a slow recovery from a recession that cost 352, 185 jobs, according to the Business Insider, since the year began. Though 9 out of 13 interviewed economists responded with a more hopeful analysis regarding the housing market according to an article posted today on CNNMoney “Economists: Housing recovery finally here”.
Mr. Colello is more skeptical than economists boasting that the economy is recovering. Colello spoke with ABC50 on the very difficult decision he had to make that cost some employees their jobs. Though unlike other businesses, Mr. Colello ensured that laid off employees connect with future employers by setting up meetings for the two to become acquainted.
The housing market maybe in a slow recovery, but some small businesses are feeling the impact of an uncertain economy that makes them reluctant to hire new employees or afford to keep the ones they have. Struggling small business owners like Michael Colello will be watching the debates hoping for a sign and a new direction that will help small businesses prosper.