How Has The Recession Affected Your
December 10, 2009
How Has The Recession Affected Your
Your Family?
Your Business?
Your Wealth?
Your Life?
Your Health?
Your Relationships?
Your Home?
I don’t personally know anyone who is prospering in this recession. That’s sad but it’s true. I know way too many people who went into business about the same time as I did and who no longer in business. Every business owner that I know who is still in business has cut back hours or laid-off employees. Did I say that I am grateful to be in business.
We are no different in this regards. I had a business partner – life partner that left this business because there wasn’t enough business to justify two working for Tucson SEO.
What I am asking you today may strike down to the very core of your lives. People everywhere are struggling to over a hide variety of challenges in this year 2009. It has been labeled, and is in fact, the deepest world wide recession since the great depression. I’ve been around since the fifties and I have seen nothing like this.
The late 70’s under Jimmy Carter where very challenging times but that didn’t stop me from opening my first business. in the early 80′s. During this time it was a real struggle in Arizona as the copper mines went on strike. These companies planned on breaking the unions which they did. Suddenly tens of thousands of miners were out of work. These unemployed miners quickly broke into the self employed ranks.
The miners took on one or more of three general labor pools. They would become painters, landscapers, or janitors. I had a new business and my janitorial services where be challenged by desperate men trying to feed their families. The miners and the copper producers struggle sometimes became violent. Even with overwhelming competition we were able to find work. Thank God for that as I was now a first time Dad.
Jimmy Carter lead the country badly. I voted for him and lived to regret it. Unemployment was rampant and interest rates soared to near 20%. That was then I was dumb and young and I didn’t like working for others so I started a janitorial service. However, If I wasn’t already in business I doubt that I would go into business today.
Since this blog is geared to local small business solutions. I want to know what solution worked for you? What business challenge did you encounter? How did handle that situation? I really hope some of you will choose to get involved in this discussion.
In the next post I will discuss how I handled this business and what I did to survive. I can only hope that we can inspire each other and perhaps enhance our hope.
That’s my story… For now!
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Comments
8 Responses to “How Has The Recession Affected Your”
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I do have to disagree because my new business has been doing quite well in the recession. Our family has not had any financial cutbacks, and we seem to be making more money than ever. I don’t think that the recession is affecting everyone from my experience.
Admin:Have Mark show you how to properly use Keyword Luv if you want a link.
Great I am glad to hear the you have prospered… Someone always does in a recession. I am amazed since you are in the coffee business that you are doing well, especially when I see what has occurred at Starbuck’s. I can only speak about what I have observed in Tucson where I live. It is good to know that not everyone has suffered. Thanks so very much for your input.
I own a service business and I have certainly seen a slow down in business.Its mostly due to the credit restrictions , people are having a hard time buying the big ticket items
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Admin:Mark, thanks for the input I appreciate it. FYI, you want want to turn of your automatic voice introduction on your site. It hurts your site more than it helps.
The recession has affected us in all in different ways whether losing our jobs or from the lowered interest rates. Although interest rates have fallen which is great for mortgage etcetra it has resulted in the interest rates of our savings accounts also falling. Many people will be shocked to find out that there are banks still offering very good rates. To find the best rates on the internet look around and make use of price comparison sites.
We have definitely seen a slow down in our line of work. Thankfully we have managed to stay busy enough to pay the bills but people are cutting back spending in every aspect and we are feeling it. Here is hoping for a better 2010.
certainly recession period was the worst time of my life . after completing education I was jobless for 1 year . I done nothing in that period . I passed out with good results & still I was jobless . Recession has affected my home , family , relationships & my life .
There is in no doubt that the financial crisis were emboddied by everyone around the world. I sadly don’ t have a business but I can say that the biggest impact was seen by the bigger corps or the multinationals. And on that part I think it has done good on them. They haven’t performed in the most angelic form as they claim to be doing. Money laundering from Enron and the bankruptcy of BCCI shows us that these large corps eventually forget the humble starts they came about from. My advice to smaller businesses is that even though certain entrepreneurs were untouched or barely touched by this impact, be on your guard. Certain areas that dealt with designer wear and clothes, to real estate agencies all have suffered. For the obvious reasons, when people will run out of money, they will require nothing more but food, shelter, water, clothing(to the minimum). Therefore, considering these economic hiccups for those considering to go into business, think twice what you want to invest in.
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It is just as bad over here in the U.K. A very well knowm store chain that had been around for years has been the biggest victim of the recession. It was quite a shock.