Like many restaurant operators, Peter Herrero Jr. has seen customer traffic fall at Sam’s of Gedney Way as people grow more nervous about the economy and a stock market down about 20 percent this year.

Even when customers stop by, they are more likely to spend less at his restaurant in White Plains.

It doesn’t help that the gyrations on Wall Street spill over to Westchester County more than many places because the region is home to highly paid investment banking executives hit the hardest by the market’s meltdown.

Other pressures facing Herrero include soaring costs for ingredients ranging from cheese to tomatoes to meat. Rising energy prices also make it more expensive to turn on the oven—and the lights.

“It is a stagnant economy,” Herrero said. “You can’t raise your prices, you are not getting much new business. But you have inflation. So you are really getting squeezed. You really have to re-invent yourself.”

Such bleak assessments were common today at a seminar for restaurant operators at Westchester Community College titled appropriately enough, “How to Survive Hard Times.” The seminar was sponsored by New York State Restaurant Association.

Surveys show that the economy is the top concern for restaurant operators nationally. Consumer spending is growing at the slowest pace in 17 years. Fifty-seven percent of restaurant operators nationally reported a drop in customer traffic during July, according to the National Restaurant Association.

“We all know that the economy is in a dive, and that what affects Wall Street affects our restaurants,” said Don Benjamin, Northeast regional director for the New York State Restaurant Association. “The next six months will be very difficult.”

Industry professionals offered advice on how restaurants can cope with the downturn.

Gerry Houlihan, formerly the owner of Daniel’s Restaurant and Caterers in Eastchester and Tuckahoe for 20 years, said that controlling costs and watching budgets is essential. By using spreadsheets, even the smallest of restaurants can use the tools of a national chain to closely monitor how much they spend on food and beverages, he said.

“We will get through this,” said Houlihan, currently the owner of Houlihan Business Brokers, which specializes in the sale of restaurant businesses. “But you have to adjust. You can’t be stagnant if you are going to survive in this market.”

Ed Smyth, the New York state manager of RLW Analytics, said that boosting energy efficiency can also yield major savings. He said steps such as adding energy-efficient lightbulbs, better ceiling insulation and more efficient kitchen equipment can yield big savings over time.

Koshy Chacko, the owner of the Fair Deal Cafe in White Plains, said that the recession has forced him to take steps to cut costs, lower his energy bill and use staff more wisely.

“I think this recession is good for us,” Chacko said. “The rest of the world has figured how to live with less….We Americans have been spoiled.”