CaribWorldNews, NEW YORK, NY, Fri. Oct. 3, 2008: The economic crisis is forcing Caribbean small businesses to cut staff and inventory, work longer hours, and find collective ways to overcome what is expected to be one of the worst periods for business in American history.

A stroll down one main avenue in Brooklyn finds struggling entrepreneurs who are undoubtedly among Caribbean Americans in the U.S. facing economic hard times. `It`s a struggle,` said Frantz Moise, a retailer originally from Haiti. `I know the stuff that sells but I can`t bring them in as I would like to. If revenues not coming in you can`t buy stuff.`

Moise, who works part time and runs a booth in the Flatbush Canton Market in Brooklyn, said he survives through the support of the market`s managers and his retail neighbors. They meet regularly to discuss ways to improve business in the market.

The Haitian migrant said he supports the U.S. government`s plans to relieve the burden of some of the major creditors on Wall Street, whose failure, the Bush administration and members of Congress said, could spell further economic dire straits.

`If they`re spending $600 million a day in Iraq,` said Moise. `They might as well take a chance with $700 billion for us.`

Jamaican Patricia Wilson, who runs Salon Selective Beauty Salon on Church Street in Brooklyn, said she`s unable to support a full cadre of staff and she`s definitely seen a decline in revenue.

Gesturing around her salon, Wilson summed it up accurately: `We have chairs we cannot fill because we don`t have customers. They don`t have money to come.`

But she insists that entrepreneurs have no choice but to ride out the storm.

`It`s not that we have assets or capital stacked away,` she said. `We have to keep going, hoping for things to get better.`

Bernard Edwards, who helps his sister Marilyn Fraser run Remarkable Flavors Jamaican Restaurant and Bakery not far from Wilson`s salon, revealed they were forced to let go of some employees and drastically cut the hours of the others. This means a larger physical burden for the brother and sister team.

`We have to spend more time here personally,` said Edwards. `We have to work harder.`

The Caribbean American Chamber of Commerce and Industry is reaching out to small business owners grappling with the economic crisis. It`s holding a small business `community conversation` today at the Flatbush Canton Market on the corner of Flatbush and Canton avenues.

CACCI president Roy Hastick said the crisis has caused business closures, staff lay-offs and a fall in retail sales among the Caribbean business community, but he sees a positive side to the problem.

`Many businesses are talking with each other to combine their resources and to look at new areas of business, particularly with their Caribbean counterparts. CACCI has been encouraging this development,` said Hastick.

But he remains optimistic. `CACCI is confident that Caribbean American businesses, which are meeting very tough times now, will return to normalcy and pave their way to growth and prosperity - sooner rather than later.` he added.

The comment comes as U.S. Senators approved the controversial bailout bill, sending it back to the House for another vote. – By  Erline Andrews/CWN