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Dallas / Fort Worth Local News

Slow Economy Forcing Dallas Businesses To Close

By Marianne Martinez
DALLAS (CBS 11 / TXA 21) ―

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The economic slowdown is starting to hit small businesses in a popular Dallas entertainment district.

After 30 years, the Ole Moon art and gift store on Lower Greenville will shut its doors.

Owner Rudi Riffkind says business has been down.

And it came to a halt after Christmas.

"It's a sad moment for small business people like myself," she said.

She's not alone. Farther south on Lower Greenville, a wine shop is also going out of business.

Jeff Blatt, who's with the Dallas Small Business Development Center, says it's important for small business owners to find new ways to survive in this economy since it will be tough to find other jobs.

"The main thing I will urge people to do is to hang in there," he said. "Be creative as far as cutting costs and finding new markets."

He also suggests business owners collaborate and pool resources.

But Riffkind, of the Ole Moon, says she already cut costs and couldn't find a way to stay open.

"I've downsized employees, cut my salary in half," she said.

And now, after 20 years of owning this store, she'll start looking for another job.

"I've never interviewed or looked for a job in my life," she said. "It's frightening."