Spotlight on the Economy: Starting New in a Bad Economy

In any economy, starting a new business is risky if not terrifying, but starting up; committing funds, signing construction contracts and breaking ground just as the economy takes a nosedive is a nightmare.

 Those who are prone to observing the landscape as they drive through Southern Maryland might have observed more than few businesses changing hands, opening and closing all in the span of the past year or so as the economy has steadily deteriorated.

 However, for some who are committed to success and who have the foresight to adapt to changes as they are required, starting a new business is not only possible, but can be highly lucrative.

The Micro Brewery and Grill  almost never was because  of the economy.

 Consider the trials and tribulations of one such new business – The Ruddy Duck Micro Brewery and Grill. The eatery was originally supposed to open in August of 2007 next to the new Hilton Garden Inn in Solomons.

 However, because of the failed economy, the owner, Carlos Yanez has had to suffer redesigns during construction and delay after delay in the process. “We had to get creative with construction costs.” Yanez stated that he has had to change building materials and methods at least twice because of the escalating cost of everything from wood to concrete.

 “The price of fuel is double what it was when we started construction,” said Yanez. He indicated that the rising costs of fuel and delivery has affected everything relating to the construction and the outfitting of his micro brewery.

 Costs have soared since the entrepreneur committed funding for the project and procured construction financing. Because of loan and banking problems which are part and parcel of the downward spiraling economic condition, his construction financing was set at a fixed level. “We had to change everything in order to finish within the budget,” said Yanez.

 Now, a year and a month later, the restaurant and brewery is almost ready to open. “We expect to be ready

Because the price of fuel and energy have  doubled, Yanez has had to improvise his  construction designs. However, with the  stainless steel vats required, he had to  almost triple for certain items like these  stainless vats. The increase had to be  addressed by being creative in oither areas  of the construction project.

by November,” said Yanez.

 When the Ruddy Duck finally does open, it will be serving locally brewed beers and wines and modern American cuisine. “As long as the economy stabilizes, as it seems to have done in the past few weeks, we should be fine and finally open our doors.”