Coldwell Banker has joined forces with Realty World Lake & City.

Soon after Design Inspirations, a home accessories shop, opened in July, business was booming.

Customers would drift into the store on Main Street in Cornelius, marvel at the furniture, art and artifacts, and leave with three or four pieces, owner Pamela Ruzicka said. Now, that has changed.

“It’s a more cautious buyer,” she says. “It’s the unknown people are fearful of.”

In recent months, the economy has stalled and the stock market has plunged. A gas shortage stranded some consumers, and the Wachovia-Wells Fargo deal has left others worrying for their jobs.

The gloomy headlines have meant tough times for some new businesses in Lake Norman. But while some say they’re concerned about the future, many are relying on sales strategies, smart growth and the strength of the region.

“There is certainly reason for folks to cautiously enter into a new business,” says Karen Shore, president of the Mooresville-South Iredell Chamber of Commerce. “But … it’s still a very good area to start a new business.”

The healthiest industries have been technology, communications, retail and service, she said. Others, such as hospitality and restaurants, have suffered a bit.

Seeking strength amid downturn
Many new-business owners are counting on their strengths to make up for the slow economy. Ruzicka, an interior designer who moved to the area from Chicago two years ago, found a shortage of home decor shops in the area that led her to launch Design Inspirations.

While business is slower now, it hasn’t stopped, she says.

She has tried to cater to customers’ needs. For instance, recent shipments of holiday gift items range from $15 to $60 – lower than what the store would usually carry, but more likely gifts than a $500 piece of furniture, Ruzicka says.

For Campania Café & Italian Gourmet Market, owners Vincent and Nancy DiGiorgio are hoping variety makes up for the risks of opening a new restaurant.

Campania, which opened in August, serves breakfast, lunch and dinner, as well as pastries and espressos. Meals range from $5 for a salad to $13 or more for some entrees.

“If you’re slow in one area one week, another might pick up,” Vincent DiGiorgio says.

The economy “worries everyone, but we’ve just got to get through it,” DiGiorgio says.

The tough times might actually be helping Davidson Chocolate Co., which opened this summer on Jetton Street in Davidson, says owner Sue Elliott.

“I think chocolate is something that, when people are not feeling good about the world, it cheers them up,” she says.

The growth of the area’s customer base is part of the reason she and her husband moved there.

The Elliotts reach out to local charities to get their names in front of people.But what’s most important for long-term success is a good relationship with customers, says Elliott.

Positioning for the future
Some companies say the slow economy is an opportunity to expand – to position themselves for when things turn around.

In September, Coldwell Banker United, Realtors, announced it had joined forces with luxury real estate company Realty World Lake & City. Realty World became Coldwell Banker’s second Lake Norman-area location.

It was a chance to “look to where we should be, not where we are,” says Tom Martin, senior vice president for Coldwell Banker who oversees the Charlotte region. “Markets like we’re in today are ideal times to grow, if you grow with a good business plan.”

In recent months, some Lake Norman-area business owners have been slower to jump into the market at all, says Bill Russell, president of the Lake Norman Chamber of Commerce.

That’s not a bad thing, though, because they’re taking time to research – and that could ultimately lead to a better business climate, he says.

Slow economy or not, Lake Norman is a good place to do business, Russell says.

“Even when we’re in down times,” says Russell, “we slow down – we don’t stop.”