As the economy shifts and changes, business owners in the Tomball and Magnolia area have begun to notice that the cost to maintain their business has steadily increased over the past year. Local business owners have attributed rising costs to rent, utilities, gas prices and importing goods.
The big picture: Tifanni Wooten, executive director of the Tomball Economic Development Corporation, said that narrow profit margins are due to a combination of factors.
“It's not one individual expense,” Wooten said. “I think it's the accumulation of having to pay more for products and materials and utilities and rent and insurance and transportation, obviously fuel.”
The impact: Courtney Nguyen owns Magnolia area cafe Flour Petal Bakery and said that the cost to purchase supplies for her services has grown over the last year.
“I've gotten two emails this year from our distributors for just basic supplies like flour and sugar, that they're having to increase prices again because of increased tariffs and then the increased costs in oil and gas," Nguyen said.