Any green shoots for anyone yet?
Discussion
Following on from the 'How Bad is it for you?' thread of a few months ago, I thought now might be a good time to take a straw poll of how you think things are.
Personally speaking we have had a tight but not too uncomfortable six months in the taxi trade, helped mainly by good council (guaranteed money) contracts. Our ad hoc rank trade took a real tumble after New Year, which is normal, but this year was particularly quiet. Since Easter, we have started to pick up trade again and I'm qiuetly confident for the rest of the year. I'd rather be where I am now than this time last year. A lot of our competition seem to be really struggling still though.
Personally speaking we have had a tight but not too uncomfortable six months in the taxi trade, helped mainly by good council (guaranteed money) contracts. Our ad hoc rank trade took a real tumble after New Year, which is normal, but this year was particularly quiet. Since Easter, we have started to pick up trade again and I'm qiuetly confident for the rest of the year. I'd rather be where I am now than this time last year. A lot of our competition seem to be really struggling still though.
I wasn't in my current line a couple of years ago, so don't have a proper basis for comparison. I'm quite busy, though, busier than I expected to be, even though I'm not currently advertising. I realise that I get a good deal of my work because I'm cheap, but it's what the market can bear and as my costs are low, I'm happy.
We had downturn from April 2009 until September, even went down to a 4 day working work for a month. At the end of September we were as busy as ever, and it has continued ever since. March 2010 was the second highest turnover month in the company's history, and our order books are full for the next two months, which is the normal 'visibility' in our industry.
Apart from a major quiet period between nov 08 and march 09 when I had to let someone go we have been busy ever since.
Really cant complain, only had one customer go belly up on me, for £322 so overall think ive been very very lucky.
Must be either to cheap or very good, the later I hope.
Really cant complain, only had one customer go belly up on me, for £322 so overall think ive been very very lucky.
Must be either to cheap or very good, the later I hope.
As you know, I'm in the Taxi trade. We're in a university town, and our turnover has just kept growing throughout the recession. Some profitability had to be sacrificed (Higher fuel prices a prime example) but each month we make more money and our drivers are busier.
I feel it only comes from a constant marketing attack and having a couple of USP's that add real value to the customer experience.
I know that the trade from the Taxi ranks has really taken a nosedive, and unfortunately the laymans answer to less customers is to charge more. It's a self-fulfilling prophecy, and I really feel for some of our competition.
As it stands though, we've weathered the storm quite nicely so far
I feel it only comes from a constant marketing attack and having a couple of USP's that add real value to the customer experience.
I know that the trade from the Taxi ranks has really taken a nosedive, and unfortunately the laymans answer to less customers is to charge more. It's a self-fulfilling prophecy, and I really feel for some of our competition.
As it stands though, we've weathered the storm quite nicely so far
Difficult to say for sure, as we are a growing business and things have been getting better year on year, but of course they could have been a lot better.
Company A - High Street
Seen some growth year on year, but hear lots of stories from others about how good it used to be. We are putting a lot of effort in to keep up sales, but we have done that since we started.
Overall - No Change
Company B - Electronic Designs
Again, generally been growing and some of our products are now maturing and reaching better market impact. What we have noticed is that customers who were just looking for quotes and never placed an order, are now starting to place orders. Last year everything seemed to be on hold.
Overall - Looking Up
Company C - Leisure/Nightclub
Not been trading for very long, and it was a bust business before we took over. Things are looking really bad at the moment, everyone seems to be suffering. I get the impression that the punters are not spending, which makes the town quiet, which makes less people go out.
Overall - Down/Looking in the dark...
Personally, I can things starting to look better, but it can depend on your sector. My local bar buddies, so to speak, have a varying fell from business to business. Some are just doing work to keep the wheels turning and not making any profit. If things don't pick up significantly, I can see more people closing up.
smele
Company A - High Street
Seen some growth year on year, but hear lots of stories from others about how good it used to be. We are putting a lot of effort in to keep up sales, but we have done that since we started.
Overall - No Change
Company B - Electronic Designs
Again, generally been growing and some of our products are now maturing and reaching better market impact. What we have noticed is that customers who were just looking for quotes and never placed an order, are now starting to place orders. Last year everything seemed to be on hold.
Overall - Looking Up
Company C - Leisure/Nightclub
Not been trading for very long, and it was a bust business before we took over. Things are looking really bad at the moment, everyone seems to be suffering. I get the impression that the punters are not spending, which makes the town quiet, which makes less people go out.
Overall - Down/Looking in the dark...
Personally, I can things starting to look better, but it can depend on your sector. My local bar buddies, so to speak, have a varying fell from business to business. Some are just doing work to keep the wheels turning and not making any profit. If things don't pick up significantly, I can see more people closing up.
smele
we've had it real hard, 2007 was our best year in 40 years, then in nov 2008 most of my major clients just canned multi £million programmes and turnover nose dived, had to lose approx 1/3 of my workforce and up until May 2009 I we had many many lads on lay off days....was just so difficult made doubly wose by a verey unhelpful bank......but slowly its picked up and we entered 2010 with the same level of orders as 2007, and all those programmes that were canned are coming back on line, we've had 3 months of decent profit and we're full until July so I think we're looking good and looking back the last 2 years have made us make changes that maybe would have taken a few years, so its not all bad
I'm just wondering, post election, whether with all the public sector job cuts/savings forecast or hinted at; whether we'll see a double dip back into slower growth or even recession again.
So far all the hurt has happened in the private sector with all the public sector being paid by an ever growing national debt and 'carry on as though nothing has happened' attitude.
So far all the hurt has happened in the private sector with all the public sector being paid by an ever growing national debt and 'carry on as though nothing has happened' attitude.
Tyre Smoke said:
I'm just wondering, post election, whether with all the public sector job cuts/savings forecast or hinted at; whether we'll see a double dip back into slower growth or even recession again.
So far all the hurt has happened in the private sector with all the public sector being paid by an ever growing national debt and 'carry on as though nothing has happened' attitude.
I take it your government contracts are in education and social services? I think cutting back on these sectors will be political suicide for whoever wins the election.So far all the hurt has happened in the private sector with all the public sector being paid by an ever growing national debt and 'carry on as though nothing has happened' attitude.
In education, we have a mix of Local Authority contracts and Private Schools who are not funded by the public purse.
Whilst people have been hurt by recession, private individuals still need essential services. Utilities, Transport, Food, Medical Care. I think if you can provide one of these essentials at an affordable price you shouldn't really see a dip in trade.
Easier said than done with business costs rising all the time I know, but if the government squeeze me dry that way I'll bloody well take my knowledge somewhere else
KingRichard said:
Tangent Police said:
There are green shoots for those with the right sort of seeds.
We aren't in the wholesale green shoots territory yet.
The markets have a certain sort of flavour at the moment and there is money to be made.
What are you trading? If you don't mind me asking We aren't in the wholesale green shoots territory yet.
The markets have a certain sort of flavour at the moment and there is money to be made.
I can't say more than that, as there is such a yawning gulf in the market, it's utterly unbelieveable that it hasn't been filled.
I stumbled upon it whilst looking at something similar which I use a fair bit of.
Tangent Police said:
KingRichard said:
Tangent Police said:
There are green shoots for those with the right sort of seeds.
We aren't in the wholesale green shoots territory yet.
The markets have a certain sort of flavour at the moment and there is money to be made.
What are you trading? If you don't mind me asking We aren't in the wholesale green shoots territory yet.
The markets have a certain sort of flavour at the moment and there is money to be made.
I can't say more than that, as there is such a yawning gulf in the market, it's utterly unbelieveable that it hasn't been filled.
I stumbled upon it whilst looking at something similar which I use a fair bit of.
Bravo... Nice to see someone sniffing out some success
Now tell me you dog...
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