From Columbia to College Park to Cambridge and College Station–college is back.

With colleges back in session, businesses can thrive

Keg parties, late nights at the library–whatever the memory, thousands of students are flocking back to campus ready to get back to school–and spend money. Estimates vary as to exactly how much money that means for local economies, but clearly the impact that the infusion of students can have on a local economy is limitless. Some towns are exclusively “college towns” and exist almost only on the revenue generated by the college (think State College, PA–the home of Penn State). Other cities are more substantial and co-exist with their huge college population (Austin, Texas–home of the University of Texas).

One college town that has been keeping a close eye on the impact of students coming back to school is Columbia, South Carolina. Columbia, S.C. That’s because “The Hub” is opening a $40 million project with 21 stories of modern living in it. Local businesses are ready for the new crowd to hit the city center and help their profits. Chad Elsey, the owner of restaurant in Columbia recently told WACH, “We’re
just excited to have them down here and mix in with the bu
siness
crowd…One of the reasons
we decided to come here was because the Hub was opening and it’s
actually been way busier than we anticipated.” From restaurateurs to
business owners understanding the impact that other projects can have on your own bottom line is essential. Small businesses are always susceptible to feeling the impact of other projects and must be ready to sustain the changes that come.

Some small businesses have recently looked to small business loans as a means to get ready for upcoming changes in business climates as well. These popular forms of merchant cash advance products can certainly assist all types of businesses dealing with upheaval and change.