Business slow down since Brexit?
Discussion
Kermit power said:
Now is really not a good time to have invested in housing cloud data services in the UK to service the EU market. 
We recently registered a new UK company with "Europe" in the title and bought EU domains. M=CA minor inconvenience but we were quite sure Brexit was definitely out the question.Online retail has slowed significantly, but high street has been much stronger than anticipated. Market confidence is not strong, people are holding on to their pennies, so I'm going to try to shift stuff in America... I don't know how long I can operate in a declining/weak market though... 5 years to bounce back would kill me off.
Zoon said:
Hoofy said:
"Business slow down since Brexit?"
I wish.
We're starting to turn down work. Nothing to do with Brexit, though. Just that the business is growing.
Are more people speaking to you now who have had enough then?I wish.
We're starting to turn down work. Nothing to do with Brexit, though. Just that the business is growing.(Sorry took your occupation from your profile)
No effect on one business I own. The demographic of my customers changes but the volume of business and income remains roughly similar.
The other business produces a world commodity and the reduction in the value of the £ against the $ has raised the price I will receive by almost 10%, which is a positive. The negative is that the input costs are likely to rise, as they are priced in $. Overall though it should see a positive effect.
The other business produces a world commodity and the reduction in the value of the £ against the $ has raised the price I will receive by almost 10%, which is a positive. The negative is that the input costs are likely to rise, as they are priced in $. Overall though it should see a positive effect.
We have had a mixed bag since the vote. Straight away two purchasers backed out of car deals but our parts side is very busy. We have sold a few cars since the vote as well.
Decided to carry on buying in for now but in the medium term I'm looking to thin stock levels down by 30% and hold more working capital. Have a small amount of cash I'm off to swap for Euros tomorrow.
We can keep on tickover although we have grown exponentially in the last 3 years we are still pretty lean with only 5 full time staff over two sites.
At the moment I'm extremely pessimistic about the medium term outlook. It was great not to see an immediate Armageddon but I think we are still just about hitting the brakes in a 5 year car crash. Euro is just starting to go, couple of pension investors are having a wobble on UK housing and the key thing is that UK housebuilders are struggling. All the early warning signs of 2008 are in place. We didnt have a weak £ to $ in 2008 though so that could be a good buffer although any trade benefit can easily be swallowed up in inflation.
Decided to carry on buying in for now but in the medium term I'm looking to thin stock levels down by 30% and hold more working capital. Have a small amount of cash I'm off to swap for Euros tomorrow.
We can keep on tickover although we have grown exponentially in the last 3 years we are still pretty lean with only 5 full time staff over two sites.
At the moment I'm extremely pessimistic about the medium term outlook. It was great not to see an immediate Armageddon but I think we are still just about hitting the brakes in a 5 year car crash. Euro is just starting to go, couple of pension investors are having a wobble on UK housing and the key thing is that UK housebuilders are struggling. All the early warning signs of 2008 are in place. We didnt have a weak £ to $ in 2008 though so that could be a good buffer although any trade benefit can easily be swallowed up in inflation.
Yes, slowed down about 6-8 weeks before the vote with decisions kicked into the long grass with the excuse that 'we'll wait until after the vote'.
Now we're out, we're finding consensus lead decision making (read taking ages to get signed off) and several projects postponed indefinitely.
Our target market is Technology / Change Projects from 20k - 1m with mainly FTSE250 and some FTSE100 clients and Healthcare (which appears to be back on track). Businesses can't sit still forever so I'm confident it will loosen up (he says hopefully!)
Luckily we have non European offices kicking back some profit and growth, but given the UK has been our cashcow it is interesting times ahead. The first question have asked my International leaders is, can we invest money now to provide growth from next year? That is money that we would have invested in the UK, I suspect we are not alone with this strategy.
Now we're out, we're finding consensus lead decision making (read taking ages to get signed off) and several projects postponed indefinitely.
Our target market is Technology / Change Projects from 20k - 1m with mainly FTSE250 and some FTSE100 clients and Healthcare (which appears to be back on track). Businesses can't sit still forever so I'm confident it will loosen up (he says hopefully!)
Luckily we have non European offices kicking back some profit and growth, but given the UK has been our cashcow it is interesting times ahead. The first question have asked my International leaders is, can we invest money now to provide growth from next year? That is money that we would have invested in the UK, I suspect we are not alone with this strategy.
Gassing Station | Business | Top of Page | What's New | My Stuff