Students are crucial to the protection of local businesses

The Franklin and Rosemary Street area of Chapel Hill belongs to University students as much as it does to anyone else.

The fate of the unique businesses of Franklin and Rosemary streets in the near future is in peril.
This aspect of our town is vital to the culture of the Chapel Hill experience. We as students should play a dynamic role in the business processes of this town and must vouch for economic priorities in the shaping of this district.

Recently, more and more chain businesses are occupying limited business spaces along Franklin Street. Waffle House, Mellow Mushroom and CVS Pharmacy openings within the last year alone are a testament to the attractiveness of Chapel Hill commerce to large retail conglomerates.

Yet, it is the smaller entrepreneurs along Franklin Street that give the area its charm.

What differentiates Franklin Street from any other college main street in the country? It’s the local businesses that create the identity of the area.

The Rosemary Imagined project is aimed at eliminating the ugly stepchild status of Rosemary Street in contrast with Franklin.

Town officials believe that vacancy issues, or the ability of local businesses to expand to new spaces in the area, is the largest detractor to vibrant local business growth.

The development of Rosemary Street is a possible solution to the vacancy problem.

Unfortunately, local businesses won’t be the only parties competing for potential spaces along a developed Rosemary Street. Rosemary Street is susceptible to massive national chains that bring with them the backing of their headquarters’ overwhelming money and influence.

National chains are already at an advantage to smaller businesses in Chapel Hill.

In difficult economic times, chains have the financial backing to weather the storm and avoid foreclosure on account of short-term losses. Local businesses do not have that capability.

As it exists today, no direct tax-incentives or similar incentive-based laws are written into Chapel Hill town code to support small businesses.

Town officials believe that in order for the Rosemary and Franklin Street area to be healthy, it must contain a mix of local boutiques and national chains.

Chains are proven to provide better publicity to the area and draw a more immediate crowd, thereby aiding the visibility and attractiveness of their startup neighbors. While such reasoning is true, it is also precarious. The proportion of small to large business mix in the area is in danger.
Tax incentives are only one way to support smaller business enterprises.

Regardless of the means, if the Chapel Hill community values the small shops along Franklin Street, further protection of existing small businesses alongside the encouragement of local entrepreneurs is crucial.

Chapel Hill’s economic development adviser, Dwight Bassett, says University students are the missing piece of the puzzle in the development of the town.

Events such as Tuesday evening’s open forum discussion at local Tru Deli Wine gave students a prime opportunity to offer their opinions on the matter. Similar events need to follow.

The protection of our small businesses is our responsibility as members of this community.