The cost to do business in Charlotte is getting more expensive. It’s forcing some small businesses to call it quits or set up shop elsewhere. The latest casualty is the Charlotte Collective on Central Avenue in Plaza Midwood.
In an Instagram post the owners of Charlotte Collective say, “Across Charlotte, small businesses are facing rent increases that aren’t sustainable for small businesses, and we are now part of that sad pattern as well.”
This isn’t the first business in the area to close shop. It follows several others including Soul Gastrolounge, which closed its Plaza Midwood location over the summer for the same reason.
When it comes to commercial rent, data from the National Association of Realtors shows rent went up 11% nationally from 2021 to 2022.
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Well back here at home we are watching The cost of doing business in the Queen City Rising it is forcing some Mom and Pops to call it quits or set up shops Somewhere else WCNC Charlotte's Lexi Wilson joining us from Plaza Midwood Where another local shop announced that It is closing its doors We're on Central Avenue where Charlotte Collective will be the latest business To close up shop here in Plaza Midwood They say it's because of rising rents Thank you Applause the Midwood known for its charm And Community it's just so Lively and It's like compared to like other places It feels kind of like a little like Neighborhood but now it's also a place Where some local businesses are being Pushed out something that it's really Sad to see because you know one of the Things that I personally think that Makes the plaza so special is actually Those small businesses the latest Business to announce they will be Closing up shop in the area Charlotte Collective on Central Avenue in an Instagram post the owners say across Charlotte small businesses are facing Rent increases that aren't sustainable For small businesses and we are now part Of that sad pattern as well Isn't the first business in the area to Close shop it follows several others
Including Soul gastro Lounge that closed Over the summer for the same reason when It comes to commercial rent data from The National Association of Realtors Shows nationally it went up 11 from 2021 To 2022. Russell Ferguson member of the Plaza Midwood Merchants Association who Helped small businesses say he believes There are also other factors that play When it comes to businesses leaving what We've had I think more than some of the Other economic things is a lot of these Smaller older buildings were owned by Families and individuals and they're Going through generational change while The area is changing he offers some Advice for the supporters of small Businesses in the area if you love a Place that's been there for a long time Keep going to that place I mean that's a Difference and I did speak to the owner Of Charlotte Collective and she did not Want to make any additional comments on The closure but said they will be Focusing on their South End location Instead of the one here in Plaza Midwood Reporting in Plaza Midwood for WCNC Charlotte I'm Lexi Wilson
Charlotte North Carolina Offers a Wealth of Cultural, Business, and Leisure Opportunities
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Charlotte North Carolina Offers a Wealth of Cultural, Business, and Leisure Opportunities
Charlotte is one of the fastest growing metropolitan areas in the United States. With a population of nearly 700,000, Charlotte, North Carolina offers a wealth of cultural, business, and leisure opportunities.
Charlotte, North Carolina is home to many diverse cultures. The city’s cosmopolitan and refined atmosphere entices visitors. A combination of stately neighborhoods, unique cultural attractions, and a wealth of entertainment options make Charlotte an ideal destination.
Charlotte is the sixth largest urban area in the U.S. It is located in the Piedmont region of North Carolina. Located along the Catawba River, Charlotte offers many outdoor recreation options.
Charlotte is also an excellent location for families. The city is filled with Southern charm and small town friendliness. There are numerous museums and restaurants that cater to a variety of tastes.
Charlotte’s downtown offers a rich mix of 19th century neighborhoods and contemporary skyscrapers. Several universities and colleges contribute to the area’s booming economy.
A number of Fortune 500 companies have headquarters in Charlotte, including Lowe’s and Bank of America. Other top employers include American Airlines, Duke Energy, and Nucor.
With a large concentration of southern Baptist churches, Charlotte is a religious community. This community is also the home of the world’s second largest brewery.
With an average salary greater than the national average, Charlotte is a desirable place to live. The city is a top choice for retirees.
Charlotte is one of the most diverse cities in the U.S., with a 52 percent female population and a 35 percent black population. A large proportion of residents are Protestant Christians, and the city has been named the second most religious city in the country.