Happy fourth of July! We are thankful for this great nation, all the sacrifices that have made it great, and those who have continued to keep it great.
The recent primary election results are an important signal that we cannot just hope things will work out. Although we have a shared sense that business in Hollywood is improving, these gains can be reversed at the ballot box. Important issues to business success, like crime reduction, mental health, and economic development, are in the balance. Elections matter more now than ever, so get involved and encourage others to do so.
The Chamber and its Political Action Committee (PAC) are fully engaged in promoting the law-and-order agenda. We just launched an essential new website with Kilroy, dedicated to law-and-order issues in the community (Hollywood Right Now). We also collaborate with the Police, the Hollywood Business Improvement District, and groups like Hollywood Forward. Additionally, we work with Councilmember Mitch O’Farrell to support his initiatives related to crime and the rule of law. Check out our endorsed candidates (link) and vote – our continued growth depends on it.
Beyond our advocacy efforts, I am pleased to report that the team is making a difference in our business community. Working with BET, the sign was illuminated for the first time in over 20 years to overwhelming acclaim. We could not have done this without the outstanding support of board member Jerry Neuman, the Licensing Committee, and the Sign Trust. We continue to deliver on the Walk of Fame and just announced our fabulous incoming class of 2023. Moreover, we are adding just the right level of process and targets to ensure we can sustainably manage return on membership. We continue to grow to meet the business demands of our expanding membership and the Hollywood community. We have mapped our key processes and committees and now have scorecards to track our progress. As a result, we are reinforcing our culture of proactivity, achievement, and working together for you, our members.
Even in advance of the current inflationary challenges, the Chamber sought to assist our local businesses across various business issues. However, inflation has now led to adding costs to payrolls and supply chains. As of publication, consumer prices were growing the fastest in forty years. The Consumer Price Index was at 8.6% above its May 2021 level. To assist with this challenging business environment, we are redoubling our business development efforts, especially for small businesses. In July, we are launching a new business coaching effort. We do this with the sponsorship of our chairman, whose leadership in this area has been critical to starting this important initiative. The Chamber receives a vast number of business inquiries every day, and by tracking these requests, we can shape our business development efforts to meet the needs of Hollywood’s businesses. We will communicate more on this after the July 4th Holiday.