During this stabilization phase, we conducted a local business survey, created financial concessions, designed new programs and sought grant funding to help
local merchants.
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Tybee Business Survey findings:
• 72% of the businesses on Tybee shut down completely in March and April, while 15% partially shut down operations.
• 75% of local businesses saw a 75% or more decrease in sales/traffic during March and April.
• 50% of local businesses are not in danger of closing permanently.
• 24% of local businesses are in danger of closing in the next 5 months.
• 38% laid off staff; 23% reduced work hours; 22% placed workers on unpaid leave.
• The top two types of assistance businesses want are grants and concessions (fee waivers, deferrals, extended deadlines, payment plans). They also wanted help
marketing their businesses, setting up ecommerce and access to small business technical assistance.
Financial Concessions and New Programs:
• Penalty Free Extensions: The city agreed to continue offering financial breaks in the form of penalty free extensions for business license renewals, utility bills
and expired parking passes.
• Business Recovery Grant: The Main Street program repurposed its Façade Grant program into a Business Recovery Grant to help businesses defray coronavirusrelated
expenses such as installation of takeout windows, signage or contactless pay systems.
• Sand Dollars Program: Main Street sought a sponsor to help implement a new financial incentive program called Sand Dollars. With sponsorship from Lee
Ann Marsh of Century 21 Solomon Properties, we will provide businesses with $5 gift certificates called Sand Dollars. The businesses can reward customers with
Sand Dollars when they purchase at least $25 in merchandise. Customers can use the Sand Dollars on a future purchase and Main Street will cover the cost of the
discount by reimbursing local merchants.
• Marketing and Advertising Assistance: Main Street is assisting businesses with advertising by paying to boost social media posts for local businesses and by
sending out a redesigned weekly newsletter in which businesses can advertise at no cost.
• Grant Assistance: We applied for a grant from NMSC to assist with technical assistance and an online platform to help market our Main Street and assist
businesses with ecommerce strategies.
We will most likely linger in this stabilization phase until businesses can resume full-time hours and operations. Then we will move into the long term phase of
revitalization. Revitalization will extend for years as businesses try to recoup sustainable levels of customer traffic and sales. This is where we will see some of our
favorite establishments go out of business and others expand. And just like we saw with the great recession of 2007, we will see a new crop of entrepreneurs hang
out a shingle, taking advantage of low interest rates, cheapo rents and high vacancies.
Important Advice for New Businesses
If you see yourself as one of these new entrepreneurs, the most important first step you can take is to find out if your business model is allowed under the city’s
existing zoning and business regulations. It’s very easy to start a new business on Tybee Island, as evidenced by our mostly “mom and pop” Main Street. But as
with any place worth living, we have rules and regulations
to preserve our quality of life. So don’t start off on the wrong foot.
A new business that opens without doing its due diligence first won’t be in business long, and will have no one to blame but itself.
Tybee will Bounce Back
Even though the business landscape will look bleak for many months to come, rest assured we will recover.
Local tourism agencies predict the Savannah-Tybee Island area will rebound sooner than market competitors like Charleston, South Carolina and St. Augustine,
Florida because we are a drive-in market, meaning most of our visitors drive in from locations five hours away or less. With travelers still wary about crowding into
airplanes with strangers, they’ll seek to alleviate cabin fever at drivable destinations like Tybee Island.
So if you’re feeling overwhelmed by our post coronavirus circumstances, just remember this simple mantra: When the time comes y’all, we’re gonna bounce back
like a beach ball!
You can read the full survey results or get more information on our new programs on the Development Authority/Main Street webpage at www.cityoftybee.org. You
can also reach out to michelle.owens@cityoftybee.org.
/www.cityoftybee.org
link