Since the economic downturn worsened about a year ago with the collapse of Lehman Brothers financial services firm, small and family-owned businesses nationwide have faced challenges to their welfare.
But a wave of business closures has not hit the Champaign-Urbana area, said Craig Rost, Champaign's deputy city manager for development. In reality, he said local businesses have proved very resilient.
Cocomero, a locally owned frozen yogurt shop, opened at the corner of Green and Wright streets in Champaign after the downturn began. Co-owner Colin Kim said he believes business has been all right so far.
While businesses such as Cocomero may be faring well, others, such as Leisure Time Pet and Hobby, 807 N. Mattis Ave., have seen business drop substantially.
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