Small Businesses concerned about recession and other Knoxville business news
(EDITOR’S NOTE: This is a roundup of business news from throughout the Knoxville region. If you have some business news that you would like to be included in Teknovation Weekend, please email us at firstname.lastname@example.org.)
Alignable releases “Road to Recovery Report” for Q3 of 2022, surveying small businesses
Nearly half of the small businesses surveyed in the U.S. said they were concerned inflation would cause their business to close in the next six months, according to a new report from Alignable. The report asked businesses about the financial impact of the pandemic, and while many still report an impact, the focus has changed from fear of closures and losing customers to inflation and having the financial resources to keep going.
Inflation was also named as the biggest concern for businesses, with a recession close behind. Around 38 percent of the surveyed small businesses said they felt the country is already in a recession and 28 percent said we’re heading that way.
Nearly 80 percent of the surveyed businesses have fully reopened since the pandemic.
The full report can be read here.
KEC’s Chris McAdoo to host performance art event benefitting Art House
When not working as Director of Strategy & Engagement at the Knoxville Entrepreneur Center, Chris McAdoo is a local artist and speaker. At an event on August 20, McAdoo will showcase his love of storytelling through art by creating several artworks throughout the evening to be auctioned. A series of limited prints will also be for sale at the event, which will be held at the Knoxville Museum of Art. The event also includes food, drinks, and live music. Learn more and buy tickets here.
UTK hosting part-time career fair this month
The University of Tennessee, Knoxville is hosting a career fair on Aug. 30 from 1 to 4 p.m. The fair is open to undergraduate and graduate students looking for part-time work while completing their education. The fair includes both on- and off-campus options for students. Businesses interested in sending recruiters to the event can find more information here.
Business Openings and Changes
A 16-acre campground is opening boarding Ijams, Marie Myers Park, and Baker’s Creek Bottom, according to a new article from Inside of Knoxville. The Drop Inn Campground is co-owned by Carter Miller, and serial entrepreneur couple Bryan Foster and Eva Millwood. Trails have been added to connect to nearby systems. Some development is planned, including a road, four-unit bathhouse, and gazebo. The group aims to have eight campsites as well as five one-room cabins available for rent and is hoping to have their first campers by next spring or summer. Read the full article here.
Brynn Gonzalez, owner of Lox Salon in Old City, has converted the basement space’s barbershop into a spa. The space is open with curtains dividing the different spa areas, along with a private room for more intimate services. According to an article from Inside of Knoxville, the spa opened in early August. Read more here.
Local artist Paris Woodhull is opening a studio and retail space on Gay Street. The space was formerly home to a Painting with a Twist location. A large portion of the space will be dedicated to equipment and machinery that enables Woodhull to do her work more efficiently, according to an article from Inside of Knoxville. She hopes to be open by First Friday on September 2. Read more here.