Who's earning less this year than last?

[Rickwood Portpatrick]

Hi
While our turnover to date hasn`t dropped too much, as our costs are mainly for food our net income has dropped a bit. However by shopping in 3 supemarkets every 2nd day instead of one, I have managed to reduce the impact of the increases quite substsantially. We have also introduced a wee form to select breakfast items the night before which has reduced waste of bacon & sausages
Other main cost is heating oil fired) so we are not looking forward to the Winter!!

 

[davidc]

Hi Colin. I am sorry to hear things are tough. This is the third " downturn in the economy" I have beeb through. It is not the worst though. I can remember borrowing a lot of money in 92 when interest rates went up to 15%....I have done the same each time. 1 Look for new customers as spreading your customer base will more than make up for decreases in spend. 2 Add other services that reflect, and take advantage of decreased consumer confidence. 3 Cut costs to a mimimum.
Above all....remain positive...negativity breeds negativity.
Shop around the other banks. Get one behind you.
What affluent people do you have in your area, and what landscaping etc do they require.
I have always found that in recesssions the top earning sector of the market is always fruitful.
Remember the whole country has not stopped spending.
I hope this helps Colin. Chin up mate. You WILL get through this.

 

[Colin In Perth]

Thanks David for your words of encouragement. What you say about spreading the customer base is in progress. Advertising I am sure the best way to get new customers. However I find the cost of advertising too much in general. I have got some reasonably priced advertising going out in September. Also I am diversifying into other fields of work. As a sole trader I have a few trading names but the only one currently with a website is Seyrico Horticulture as this is the main area of work. In a totally different area of work I am an Agency Listed Model. This is a growing business due to more and more online and catalogue shopping. I am now back to promoting myself vigorously for work through the Agency. I see you are based in Spain. I am expecting to get some good work in Spain soon and my other work will be juggled around it. I had all my eggs in one basket and that is very unwise. I have paid the price for it over the past month.