Home > Politics, News & Issues > Political & Economic Theory
Created on: April 12, 2011 Last Updated: April 13, 2011
The statistics left in the wake of Arizona’s economic crisis are staggering: 267,000 jobs lost, 9.6% unemployed and countless others who have felt the effects of so many unkind circumstances. The numbers are so abstract, however, that the individual impact on Arizonans can often times be glossed over.
There’s no glossing over the struggle of the Laws, though. After losing their family-run business that operated successfully for 12 years, Sheryl and Brian Law struggled to deal with the aftermath. And it wasn’t just about the money.
“It’s kind of like your baby and we grieve for our own loss and the loss to the community,” Sheryl said, “because I think it was a viable need in the community.”
The couple opened the doors to Amazing Grace Christian Store, a religious-themed bookstore, in 1999 to immediate success. In the first year sales exceeded the Law’s projections by over 50% and a Store of the Year Award from the Christian Bookseller’s Association soon followed in 2003.
Business was brisk until 2008 when America’s recession, coupled with the rise of amazon.com, drastically shrunk revenue. In a monumental case of bad timing, the Laws’ bank decided to call in its line of credit to help deal with its own financial woes. It was too much for the business to handle and the Laws decided to close up shop instead of handing over the store to a stranger.
“A ton of things changed,” Brian said, “it was like the perfect storm.”
The Laws’ story is not unique in the present economic landscape. Much was lost in a short amount of time, and recovery has been slow. The vacant space where Amazing Grace used to operate is still empty; the landlord hasn’t even bothered to advertise the opening.
Yet, where some see loss, others see opportunity. This is certainly the case for David Drennon, spokesperson for the Arizona Small Business Association. He said that while the recession has taken its toll, the outlook for the future doesn’t need to be so gloomy.
“You know when you can’t find work, basically you decide you’re going to work for yourself,” Drennon said. “So there are a lot of small businesses who also started up during this time frame.”
That would explain why the ASBA has experienced a 41% increase in membership since the beginning of the recession, Drennon said. The way businesses operate and interact is changing, perhaps for good.
This new landscape is not one that everyone is eager to jump into, though. The Laws now live with their adult son, adult daughter, her husband and their two children. They all work together to keep their home and family afloat. It is not a time for rash thinking or bold moves.
“It would be a little bit before I have the courage to try my own business again,” Brian said. “I’m gun shy right now.”
So, for now the Laws do what they can. Brian continues to look for work while Sheryl works four jobs to help keep things afloat. It’s not what they want to be doing, but it’s what needs to be done.
Learn more about this author, Blake Higgins.
Click here to send this author comments or questions.
Below are the top articles rated and ranked by Helium members on:
How the global recession has affected people
by Helium01
Despite numerous recent claims by federal government officials that the recent recession is over, there is still a large
My dad would always say "He's got champagne taste with a beer wallet", that describes most people during this global recession.
There are few, if any, people today who will try to deny that the economy has taken a serious downturn recently. This is
We hear about the global recession on a daily basis, but for a large majority, the economic crisis only goes as far as their
by Roslyn Moran
You know the tune, 'Nowhere to Run, Nowhere to Hide'? The global recession has affected us all in some way or another
View All Articles on: How the global recession has affected people
Helium Debate
Cast your vote!
Should Califoria Gov. Arnold Schwarzenegger be recalled?
Click for your side.
Featured Partner
We provide personalized and effective practice opportunities to help learners of all ages and skill levels build a strong vocabulary. We envision a day when all students will have the vocabulary they need for complex thought and conf...more