Saturday, August 01, 2015
Amethyst closes at Bethesda Row
The shop closes not long after an international name in jewelry, Kendra Scott, opened a store diagonally across Bethesda Avenue. As more and more small/independent businesses struggle or close, even longtime ones, one has to question the recent assertion that Bethesda is the 8th best place in America to start a small business.
There's a lot of disposable income here, for sure. But the closures and moves of established restaurants and stores suggest the picture is not quite as rosy as Entrepreneur and "Nerd Wallet" have concluded from faraway offices.
The 2.7% unemployment rate cited in their data is quite misleading, as well. Unemployment rates tell you what percentage are unemployed, but don't correspond to the location of those jobs. With the exception of major government employment sites like NIH and Walter Reed National Military Medical Center, most jobs - most especially the high-paying ones - are located outside of Montgomery County in the District and Northern Virginia. Don't expect your elected officials to admit that publicly, however.
And if you rely on "Nerd Wallet" to decide to move here to start a business, you'll be shocked when you get your first tax and utility bills, as well as the cost of your rent.