A nice simple one for your Monday morning reading.
It looks like we may have seen the worst of the tough economic conditions for our industry and may now see some positive growth and prosperity. However it would be interesting to know how you all got through it. What decisions did you have to make in order to survive? Did you have to make people redundant? Expand your product portfolio?
Our industry has coped very well I think, without any government help like other industries got. But if we remember what we did well to cope with the economic troubles, then next time we come up against difficulty, we’ll be better prepared.
Leave your comments and points below. It will be interesting to see how we all weathered this storm!
I don’t think its over by a long way.It might only be the start.
We lost our triple a credit rating just the other day.This means that interest rates will alter on the trillions owed as a nation.
I hope i’m wrong.We’ll see lol.
Contract work keeps my company trading in these harsh times.
I agree with Mark – if you think the problems are over, you are whistling in the dark. That said, we grew ~20% in the past year. People invest in improving their homes instead of moving when employment is shakey and the future uncertain. When improving what they have, people want quaility products and the reassurance of a company that will be around to see out its guarantees.The intensity of desperate competition from companies trading on the value of deposits to keep the doors open is a huge concern for the reputation of the industry. Trying to win business on… Read more »
Mark the bond market has actually fallen since the downgrade so borrowing has got cheaper which has happened in about 35 of the 55 or so cases that a country has been downgraded.