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    6 Replies Latest reply on May 24, 2010 1:53 AM by db2245

    Recession difficulties

    LoughErne Newbie
      Hi

      Being in Northern Ireland the recession has hit extremly hard and as a small business we find getting any sort of financial assistance almost an impossiblity.
      The Banks & Finacial institutions have basically shut their doors to all small and medium business making it impossible for any business to survive, let along thrive.
      We were wondering if this is the same everywhere and we would welcome any feedback from any source and any suggestions that may help in our continued survival.

      Many thanks for listening

      Regards
      LoughErne
        • Re: Recession difficulties
          RedTieMedia Adventurer
          Hi LoughErne,

          My company is located in Florida but work with anyone in any location. We have also seen this Recession destroy many small business' in our area as well. The ones that are able to thrive still are the small business' that have a website and allow anyone that is able to go to their website and buy their goods/services. What type of business do you have? Do you currently have a website? Are you able to sell a product online?

          Feel free to check our Web Design and Development Company out at http://www.redtiemedia.net and contact us if we are able to assist you in any way.
          1 of 1 people found this helpful
          • Re: Recession difficulties
            LUCKIEST Guide
            Recession difficulties,

            Gary, Tell me more. What is your position at this hotel?? Are you an owner??

            If as you say that the hotel is involved very much in the local community, and if you think that the economy will be fine and the town survives then you are going to do very well.

            Good luck

             

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            1 of 1 people found this helpful
              • Re: Recession difficulties
                LoughErne Newbie
                Hi

                Myself and my life partner own the company that operates the hotel. I personally have been a hotel trouble shooter for the last 15 -20 years. I have never know it to be so difficult as it is at present. In the rest of the UK and Ireland things are hard but to give you an idea of the unique difficulties faced by a business in Northern Ireland. It is considered in the UK and Ireland that a new business will take up to 3 years to be self sufficient under normal circumstances. However under the same conditions a business in Northern Ireland will take up to 5 years. Take that differential and add in the world wide recession, you can guess the mountain that has to be climbed.

                Our Books for booking for weddings, social engagments and community based events are showing a 25% increase for 2010 however cash flow has be severally deminished thanks to the Banks stance and lack of any assistance.

                We have a good solid business but are being strangled financially..

                Is it similiar story where you are?

                Regards
                Gary
              • Re: Recession difficulties
                Adventurer
                i have something you might be interested in that is growing very fast and does not participate in the recession. See some people do not understand what is going on in the world. We all know that the baby boomers run about 43 cent of every dollar spent in the world. We should recognize that they are not spending that money on things they normally spend it on. They are retiring at an alarming rate the next 20 years at 10,000 a day. That means that the money spent here and there is just being spend somewhere else, Which means that some people are goign out of business because of this. If you have time freedown and money freedom when you retired what would you do???????/ travel right>? there is your answer. If you want to know more about this take a look at my website. We have just open in your country and you could really take advantage of something exploding right now. e mail me if your interested in taking a look at this. terry@pandorasdesigns.com. If your seriously ready to see the potential of this i will gladly share it with you. Take care!
                • Re: Recession difficulties
                  db2245 Newbie
                  Hi

                  It is the same everywhere yes.. We are based in the USA and have suffered for 2 years.

                  It WILL get better, cut costs where you can, look for new ways to gain business, think outside the box and mostly keep your spirits up, it will work out in the end.

                  Good luck!