Is everyone suffering from the credit crunch?
Everywhere we look around us, we seem to see the doom and gloom of the credit crunch. Firms are laying off staff if not shutting down completely, food prices are through the roof, and consumers are tightening their purse strings severely.
But look at how many different parties are interested in trumpeting the credit crunch. We have newspapers looking to make sales with sensationalist stories. We have an opposition party looking to bring down a government with claims of gross economic incompetence (albeit some of which I am sure are justified). We also have countless businesses wanting to use the recession as a marketing tool - 'come to us to save yourself money in these difficult times'.
Now, we are obviously in challenging times, and no right-minded person would deny that we are in a recession. But let us take a step back and consider the chances of much of what we see and hear about the recession being exaggerated, at least in some way.
Mr. Yorkshire has been looking around his county for evidence that we need not throw in the towel yet. Of course, he has been selective. For every positive story there are possibly ten negative ones. But, to dispel any myths that everyone out there is in trouble and to warm the heart just that little bit, take a look at these examples (from the Mr. Yorkshire Good News Portal):
i) Primark, the discount fashion chain, is such largely increased sales that it is opening 5 more Yorkshire stores by September.
ii) Dechra Pharmaceuticals saw an increase in profits of 23% in the six months leading up to December 2008.
iii) Smaller firms, such as cash and carry company Booker, have also shown resilience, with Booker reversing a decision to close its Huddersfield depot. Further, two hoteliers, Leslie and Julie Dyl, have been so successful with their Rags Hotel that they have bought luxury apartments nearby for extra guest capacity and are opening a fish and seafood deli nearby.
iv) Yorkshire property website Rightmove has seen a 40% rise in annual profits, mainly due to cheaper house prices.
v) Morrisons, the supermarket chain, has showed a 7% rise in annual pre-tax profits.
Now, of course not everyone can achieve results like these - they depend on specific circumstances. But with a combination of hard work, ambition and determination, the Mr. Yorkshire business profiling website suggests that there is light at the end of the tunnel for many businesses.
About the Author:Project Manager of the popular Mr. Yorkshire website, which profiles elite Yorkshire businesses and provides encouraging business news from the county.
Article Source: ArticlesBase.com - Is everyone suffering from the credit crunch?