Bouncing Back From Fiscal Adversity
This week’s Newsday carries the story of Kathleen King, founder of Tate’s Bake Shop in Southampton, New York. Eager to expand early in the last decade she entered into a partnership that soured. Reaching a court settlement she lost the use of her name on the business, mortgaged the store that housed the bakery and put her home up for sale.
Still, demand outstripped supply for her chocolate chip cookies and undeterred she rented more space for baking and then sought out a New York State program that guaranteed tax credits if manufacturers agreed to create jobs. She is now on target to meet her job creation estimates.
Some, after a bad business relationship might have retrenched. Ms. King chose to forge ahead.
Tags: job creation
