Dealer

Recession Looming?

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Been wondering about this the last few weeks and then seen a headline earlier......... Economy is shrinking and possible recession on the way. 

Oh well saves keeping on blaming brexit for business being so slow. 

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3 minutes ago, Dealer said:

Been wondering about this the last few weeks and then seen a headline earlier......... Economy is shrinking and possible recession on the way. 

Oh well saves keeping on blaming brexit for business being so slow. 

And it's not just motor trade then . Or diesels every business is slow just now I'm told 

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2 hours ago, Casper said:

And it's not just motor trade then . Or diesels every business is slow just now I'm told 

I think fear of no deal Brexit is what's presently driving the economy shrinking (though personally I'm hardly surprised, there is no immediate upside, and a lot of opportunity to lose trade for everyone).

The banks grabbing cash will become the norm - https://www.mkfm.com/news/local-news/confirmed-saxon-bridge-liquidation/

Sad end to a good business that overstretched themselves, I suspect there may be many more.

Keep debt manageable and build your business in a manner that can cope with good times and bad times (and never overspend in the good times, keep the profit for the bad times).

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30 minutes ago, CCC said:

I think fear of no deal Brexit is what's presently driving the economy shrinking (though personally I'm hardly surprised, there is no immediate upside, and a lot of opportunity to lose trade for everyone).

The banks grabbing cash will become the norm - https://www.mkfm.com/news/local-news/confirmed-saxon-bridge-liquidation/

Sad end to a good business that overstretched themselves, I suspect there may be many more.

Keep debt manageable and build your business in a manner that can cope with good times and bad times (and never overspend in the good times, keep the profit for the bad times).

Another one gone sad to see 

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Posted (edited)

Reminds me of a conversation with a friend in the 2009 crisis. Two of his friends had businesses in trouble. One had a small amount of debt so the bank just called the debt in and forced them out of business. The other had a massive amount of debt so the bank called them in and discussed a repayment plan. 

A small amount of debt is your problem, a large amount of debt is the banks problem.

Edited by CCC
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I am involved in a business which is diametrically opposite of the car trade. The only similarity is the downturn over the last few months...since Boris became PM. In fact. It’s been quite dramatic.

I think most businesses have suffered.

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11 hours ago, Dealer said:

Oh well saves keeping on blaming brexit for business being so slow. 

I’m no economist but the 2 things are surely linked?

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It’s all about keeping overheads in check. As said so many times it’s about what you keep not what you turn over. I think a lot of people who on the surface do well are being found out now the going is getting hard. 

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1 hour ago, James01 said:

It’s all about keeping overheads in check. As said so many times it’s about what you keep not what you turn over. I think a lot of people who on the surface do well are being found out now the going is getting hard. 

Very much this. Survival of the fittest, which can't be a bad thing.

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9 minutes ago, sparky said:

Very much this. Survival of the fittest, which can't be a bad thing.

Thins out a few elements of competition, gives new opportunity for people.

Anyone who has ensured they have adequate savings and investment in infrastructure whilst the times are good should prosper and be able to weather the storm when times are bad. 

I feel for anyone who struggles or goes under but ultimately whilst I wish everyone well and enjoy seeing success the game ain't built on sympathy. 

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Doesn't matter how 'fit for business' you are if all the punters are on the dole?

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I must be mistaken but I thought we'd been having a silent recession for a couple of years now:D

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8 minutes ago, tradex said:

I must be mistaken but I thought we'd been having a silent recession for a couple of years now:D

Absolutely agree (as usual)

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5 hours ago, XFS said:

I am involved in a business which is diametrically opposite of the car trade. The only similarity is the downturn over the last few months...since Boris became PM. In fact. It’s been quite dramatic.

I think most businesses have suffered.

The only thing Boris is good at is standup comedy.

Watched the Tory conference speech for 30mins other night and haven't laughed so much in ages :lol:

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14 hours ago, CCC said:

I think fear of no deal Brexit is what's presently driving the economy shrinking (though personally I'm hardly surprised, there is no immediate upside, and a lot of opportunity to lose trade for everyone).

The banks grabbing cash will become the norm - https://www.mkfm.com/news/local-news/confirmed-saxon-bridge-liquidation/

Sad end to a good business that overstretched themselves, I suspect there may be many more.

Keep debt manageable and build your business in a manner that can cope with good times and bad times (and never overspend in the good times, keep the profit for the bad times).

The last accounts filed for Saxon Bridge were up to 31 August 2017.

No wonder the stocking funders withdrew their support and took the stock away.

So easy to blame it on Brexit!!

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I don't mind boris actually .but I'm not Corbyns biggest fan It's each to their own I guess I'm getting to the stage I don't even see the point of voting the people voted to leave and everything is being put in place to stop it happening I think at the time I actually voted to stay can't even remember now but got to go with the majority vote I'm my opinion.

was the same with the independent Scotland thing I voted no along with the majority of Scots and Nicola is still going on amount wanting independence 

Just now, Cornish Guy said:

The last accounts filed for Saxon Bridge were up to 31 August 2017.

No wonder the stocking funders withdrew their support and took the stock away.

So easy to blame it on Brexit!!

I'd blame it on the accountant or book keeper .. or the owner for not submitting the accounts to them on time i don't doubt brexit has had an effect but it to easy for people to blaim it when the facts are there . It was a lot of other factors . 

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1 hour ago, TangoVictor32 said:

The only thing Boris is good at is standup comedy.

Watched the Tory conference speech for 30mins other night and haven't laughed so much in ages :lol:

I heard him on the radio live, he was fantastically funny, and years ago I sold a car to a guy who hired Boris for an after dinner speaker....some insurance gig or something? 

He turned up looking like he'd been dragged thru a hedge backwards, late with but a few seconds to go, not even remembering where he was, within 30 seconds he brought the house down.......not sure I want his paws on the button though? 

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3 hours ago, tradex said:

I must be mistaken but I thought we'd been having a silent recession for a couple of years now:D

Only a couple !

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1 hour ago, Casper said:

I don't mind boris actually .but I'm not Corbyns biggest fan It's each to their own I guess I'm getting to the stage I don't even see the point of voting the people voted to leave and everything is being put in place to stop it happening I think at the time I actually voted to stay can't even remember now but got to go with the majority vote I'm my opinion.

was the same with the independent Scotland thing I voted no along with the majority of Scots and Nicola is still going on amount wanting independence 

I'd blame it on the accountant or book keeper .. or the owner for not submitting the accounts to them on time i don't doubt brexit has had an effect but it to easy for people to blaim it when the facts are there . It was a lot of other factors . 

Just popped into the local MINI dealership on way home from the accountants. Salesman openly admitting market is slow at the moment and now is the time to get a deal both new and used. Then popped into Imperial Motors, only person there on a Friday afternoon (other than the sales staff who are very good).

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40 minutes ago, CCC said:

Just popped into the local MINI dealership on way home from the accountants. Salesman openly admitting market is slow at the moment and now is the time to get a deal both new and used. Then popped into Imperial Motors, only person there on a Friday afternoon (other than the sales staff who are very good).

I don't doubt its had an affect I'm just saying it can't take all the blame.loads of companies for sale up here In Scotland . Not just within the motortrade 

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I can’t believe the OP will think there is a recession looming and it is not because of Brexit. 

Everyone that voted Leave won but in doing so screwed a whole country (two actually when you count Eire). 

On a positive note Recession is actually great news for used car sales. 

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2 hours ago, Nick M.K. said:

 

Everyone that voted Leave won but in doing so screwed a whole country (two actually when you count Eire). 

 

Did not screw the country it’s all conjecture. 

No one actually knows- but if we all get positive this country could actually be great again. Those that lost need to stop whinging and accept the result. 

I for one look forward to getting out. 

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If we listen to the media and lefty Corbin we'll actually believe there is a recession. Its utter bollocks, we have been as busy as ever, my average camper conversion cost has gone up in the last 6 months or so, people seem to be going the extra mile rather than skinflinting it.

Customer of mine who owns a window firm has had is best year ever!

My Rock n Roll bed suppliers, waiting list is 6-8 weeks. 

Poptop roof supplier is about 3 week leadtime cause they are that busy 

Speaking to my landlord last week, they are building a fair sized industrial Park, 120 houses, old folks home and nursery. All of the industrial units are pre-rented, the houses are selling. 

 

 

 

 

 

 

 

 

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Posted (edited)
30 minutes ago, MrC said:

If we listen to the media and lefty Corbin we'll actually believe there is a recession. Its utter bollocks, we have been as busy as ever, my average camper conversion cost has gone up in the last 6 months or so, people seem to be going the extra mile rather than skinflinting it.

Customer of mine who owns a window firm has had is best year ever!

My Rock n Roll bed suppliers, waiting list is 6-8 weeks. 

Poptop roof supplier is about 3 week leadtime cause they are that busy 

Speaking to my landlord last week, they are building a fair sized industrial Park, 120 houses, old folks home and nursery. All of the industrial units are pre-rented, the houses are selling.

Odd isn't it., that's the thing with these things.

.....from what I'm hearing the housing market has been flat as a witches tit for ages too.

So, if these things follow previous years, we can expect a deluge of plastic/private traders popping up as, people are made redundant and 'do a few' from their doorstep/car park

 

Edited by tradex

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