Recession - Good news for your Business???

MB74

So who else thinks the recession good be a good thing, survival of the fitest???

I think more and more people are shopping about for there goods and services. I'm in insurance and have noticed over the last 6 months an increase in the amount of queries through the door and an increase in our success rate.

(Also noticed more customers going out of business, must never forget them)

R3al

Probably the cheaper suppliers and businesses like aldi, lidl, euro saver shops etc will see an increase in trade as people start to pinch their pennies a bit more, people will be spending less on luxury or frivilous items, I think we will definitely see a reduction in the number of smoothie and coffee bars, who has €4 or €5 euros to spend on a single drink nowadays?

Culchie

In the short term some sectors will see an increase in business activity, as businesses attempt to market themselves more agressively, some print/signage aspects may see an upturn. Debt collection obviously.

However at the end of the day, we're all in the same goldfish bowl, and a constricting economy is not good news for anyone really.

Your seemingly good news insurance company will be hit by more claims as crime/arson/fraud becomes more prevalent. Businesses going out of business, the increased unemployment rate will see some people ignore insurance premiums.

Darragh29

I've recently gotten into web development and I'm noticing that business contacts that I have, who for years have been saying, "Ah my customers won't buy my products on the internet!", have undergone some sort of Pauline Conversion and are now paying me to set them up with a website that customers can buy stuff off.

MB74

Culchie wrote: »

In the short term some sectors will see an increase in business activity, as businesses attempt to market themselves more agressively, some print/signage aspects may see an upturn. Debt collection obviously.

However at the end of the day, we're all in the same goldfish bowl, and a constricting economy is not good news for anyone really.

Your seemingly good news insurance company will be hit by more claims as crime/arson/fraud becomes more prevalent. Businesses going out of business, the increased unemployment rate will see some people ignore insurance premiums.

I think Culchie you missed my point completely, what I actually said was that people/companies are being more prudent with their hard earned income and are shopping around more than before, which means for those that do their job right opportunities are there at the moment

VO

The recession can be good for businesses that offer cost savings or help companies outsource. In my business, whihc is a vurtual office provider based in Naas we have noticed an increase in the number of enquiries from companies who are downsizing but do not want to damage their serivce levels.i would imagine payroll & accounts bureaus are also busier at present.