In all the frenetic media coverage its difficult to remember that most business activity is carrying on as usual. The world of Wall Street and the City appears almost completely detached from the day to day activities of most businesses.
I look after a range of clients across a number of different industries and market categories. Most are carrying on as usual. Yes, they are all aware that there is a coming recession. And they are all aware that consumers and small businesses are acting in a more prudent manner. But, so far, the apocalyptic headlines have made little real difference to their business performance. If you're selling a business, I would recommend you contact them.
Only yesterday retailer Tesco - not a client of mine - reported an 11% rise in profits. Too bad for Tesco, the media wasn't interested. At the other end of the scale business carries on for many small businesses. Yes, if you're an estate agent or mortgage broker there isn't much activity. But how many businesses are directly connected to a sector that was bloated by years of above inflation growth in house prices?
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