So who has been hit by the downturn?

Dr House

Dr House

Dr House

Soldato
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I was just wondering how many of you are feeling the affect of the global downturn?

Personally, 2 out of 3 of the campiness I run have been hit really hard. I have cut back my spending not because I can’t afford to spend but because I am worried about the future now. I even walked out on a deposit I had put down for a car recently just because I can’t justify driving such an expensive car with things being so uncertain, plus the face that the deprecation on cars is just too unreasonable at the moment.

Some of my friends who are business owners are in big trouble, they have viable businesses that normally run very well but they seem to have liquidity problems due to the fact that invoices are not being paid.

So have you changed your spending habits? If so why? Because you have to? Or due to fear?
 
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Not been hit in fact its never been better.

It's got much easier what with the tax break saving extra per month and now the large fuel price drop. I have more free money then before.
 
I have been hit business wise because sales are not as high as they could be but other than that it hasn't really affected me yet (touches wood). Fortunately I work for a big multinational company who should be able to ride out the storm so redundancy is unlikely but not guaranteed.
 
Business as usual really.

The only hassle is the lack of easy credit to get things done.
Looking towards moving more cash into the company to save dealing with the thieving scrotes in the future.
 
Business as usual.. if not better! The sector of the auto industry I am in is, if anything, most in demand during bad periods. I'm having the time of my life at the moment :)
 
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Nope, quite the reverse. I'm getting a lot of new customers due to the fact our only major competitor is losing business to us because its WORSE at what it does than we are (& that's saying something) & only one of my larger customers has closed, that was nothing to do with the recession, they lost a large contract to a competitor & have had to close.
I getting so much work now my boss is having to think about giving some of my work to the other drivers who are losing work rather than gaining work like me.
 
I work in the public sector, as long as the large price hikes on fuel and food subside, and it looks like they will I'm laughing.

Oh and for the first time in 5 years it looks like home ownership might be achievable.
 
I've not noticed any drop off in workload, still turning away work. Although I did lose a couple of regular (fixed hours weekly/monthly) clients before the summer who have since come back on a quote per job basis.

What I have noticed is, I've been having to do more work chasing payment. My clients certainly seem to be having cash flow problems at the minute. I've not had anyone refuse/fail to pay yet though (touch wood), it's just taking them longer.


Mick
 
We have not suffered any drop off.

I dont think any of the carriers have to be honest, we all seem to be far busier than last year.
 
I'm 23, took voluntary redundancy from my last place in April - sub-prime related. (was there from September 06), got a new job in May - and now the new company has started making redundancies - I've survived the first 400 but fully expect to be out of work in time for Christmas.

You'd only want my skill set if your company was minted so I'm expecting to have to go self-employed or go work at Tesco's pretty soon.

How I'm meant to survive a massive drop in income with a girl-friend who can't work I don't know, savings arn't going to see me much into the next spring (at least it will be warmer then so the heating won't matter as much!)
 
Mickey said:
I've not noticed any drop off in workload, still turning away work. Although I did lose a couple of regular (fixed hours weekly/monthly) clients before the summer who have since come back on a quote per job basis.

What I have noticed is, I've been having to do more work chasing payment. My clients certainly seem to be having cash flow problems at the minute. I've not had anyone refuse/fail to pay yet though (touch wood), it's just taking them longer.


Mick
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Invoice Factoring?? Might protect you from none payments plus speed up payment of invoices
 
<(Multi)> said:
Invoice Factoring?? Might protect you from none payments plus speed up payment of invoices
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Yeah, I've been looking into it already. I know a few people who do it, not sure it's worth the 5% though, without me building it into my prices from the start that is ;) It'd take quite a while before I could do that though.
 
We're doing better than ever. We're one of the few established and reliable and low cost providers in the industry so, as well as the people moving to us from other low cost providers for reliability/service we've also now got companies coming to us from more expensive providers (like Rackspace) to save money.

Not to mention it's much easier to barter with suppliers who are having a hard time themselves.

Some great deals on cars at the moment and high end property rentals (around here) are dropping like stones.

Exciting times :).
 
VonClinkerhofen said:
NISSAN are working a 4 day week from 31sy Oct and the company i work for supply them. We have laid off most of the temporary staff and I have had my hors reduced. So far
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I work for Honda and we are going to 4 day week after christmas time for 8 weeks. I never thought of the effect it would have on the small suppliers it would have.
 
I believe my job is quite secure, we support the tax offices in the UK. Currently everything is going fine, I've had pay increases totalling 15% this year (I had 11.5% two weeks ago), so we've not been hit. Infact the company I work for have beaten their target and have given us all a bonus this christmas. Which is nice :)

I also have another job lined up, in a sector which isn't hit by recession, but until that's definite I won't say any thing :)
 
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