Reagan Discusses Challenges Facing Alexandria's Small Business Owners

Small business owners in Alexandria have plenty on their plates, but Bill Reagan, director of the Alexandria Small Business Development Center, says his organization is there to give assistance when its needed.

Meeting with the Del Ray Business Association on Monday at , Reagan discussed what he felt were the bigger issues facing entrepreneurs in the city.

Reagan declared Alexandria a true “small business economy,” claiming 91 percent of businesses in the city have fewer than 20 employees. He said a decent percentage of businesses operate with five or fewer.

Despite their size, Reagan said small businesses represent 55 percent of the city’s gross receipts.

“Compare this to the big box revenue in the city,” Reagan said, “and the small businesses in Alexandria pull in 14 times the gross receipts of Potomac Yard.”

Reagan identified the four biggest issues facing the city's small businesses as under-capitalization, lack of expertise, time constraints and an inability to pursue new sales.

With so much time invested in operating a business and sometimes limited capital, managing resources can be a big issue, Reagan said. Business owners can’t always afford, for example, human resource experts, or have the necessary time to deal with HR issues themselves. They also can’t afford to get weighed down in the city process for permits and other things.

The ASBDC provides financial planning and training to business owners to help them manage and grow their businesses. It also provides business owners access to industry experts specializing in everything from social media to interior lighting to display merchandise.

“Our services are provided without cost,” Reagan said. “It’s part of the city’s economic development strategy.”

The ASBDC, which is located at 801 N. Fairfax Street in Old Town, receives its funding from the City of Alexandria, as well as the U.S. Small Business Association and many area banks.

Speaking to the business owners, Reagan said, “There’s a vested city interest to get you over the threshold. We’re totally focused on your well-being.”

To learn more about the organization, visit its website.