Portland shop owner optimistic businesses will 'bounce back' in 2025
PORTLAND, Ore. (KOIN) — A new year marks the end of an era for some local businesses even as new ones are turning to the next chapter.
The list of metro-area businesses shutting their doors for good includes Crush Bar — one of Portland's oldest LBTQ+ bars, ForeLand Beer's Portland Pub, Anna Bannana's Cafe on Northwest 21st Avenue and Beaches Restaurant and Bar in Vancouver.
While a Federal Reserve study found small businesses in Portland encountered more financial struggles than the national average in 2023, some are managing to stay afloat.
For instance, All Burn Wax just renewed its lease and will enter its second year at a prime location in downtown Portland.
"I opened October of 2023, so over a year now, we are - we renewed our lease. So it's kind of exciting," said All Burn Wax Owner Diana Aalberg.
The small storefront on West Burnside Street is filled with its signature line of candles, as well as other trinkets and products that are all locally made.
"We're mostly a weekend shop now, but during the weekday, it is a bit slower," Aalberg said.
She said she's seen small businesses close down for a variety of reasons that don't necessarily always boil down to hardships, lack of foot traffic or low sales.
"I think a lot of the times, it's actually just more a sideways step or just a different direction. I'm hopeful. I'm - I'm thinking it's going to be OK but that's only because that's just how I survive," Aalberg said.
Aalberg said she also thinks downtown Portland isn't all that bad.
"I think that with Portland, I think people see other things on the news that might scare them. Ask me the situation. But honestly, I love this area, and I would - I will continue to stay here," she said.
Aalberg said it's a tight-knit community of businesses downtown.
"It's been OK. I think we're going to bounce back," she said.
Aalberg also thanked the constant support from the public and her fellow business owners for being able to kick off her second year at the same location across from Powell's Books downtown.