Anyone Else feeling the Recession Bite?

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garyb01

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I own a small electronic security business, been doing this for over ten years, and things have never been this bad before. Installations and contracts being cancelled by clients due to lack of money, hardly any new business coming in and cash flow drastically down. Anyone else in the same boat?
 
Yea our company is on the verge of hitting the wall if we do not get business in soon, very scary in all honesty. I have been taking my salary out my telebet account for the last 2 months, so thank heavens i have a few pennies from gambling or i would be in a lot of kuk.

The recession is only hitting us now i think and this year will see many many companies closing their doors.
 
I'm VERY thankful I just managed to find a new quite secure job. The other one had completely dried up the workflow. I had a month without a single piece of work in. Mind you I am never doing subcontract work again, I swear it.
 
If you made it this far, and provided there are no major problems world-wide for a bit (like a swine-flu pandemic), you will likely be ok - and come out stronger once your competitors are gone. M 2c, backed up by the fact I have more disposable income now than I had 6 months ago, so as a consumer, things are looking up.

Oh - and to the OP - we just had some security work done that we put off for 2 years after rates went mad... :D
 
Yes the company I work for just lost a major UK client and had to close our entire department. I was one of the luck 2 to survive. :confused:My mates just walked into on Monday morning and was told sorry guys we don't have any work for you.:eek:
 
garyb01 said:
I own a small electronic security business, been doing this for over ten years, and things have never been this bad before. Installations and contracts being cancelled by clients due to lack of money, hardly any new business coming in and cash flow drastically down. Anyone else in the same boat?
Click to expand...

plus 1
 
killadoob said:
Yea our company is on the verge of hitting the wall if we do not get business in soon, very scary in all honesty. I have been taking my salary out my telebet account for the last 2 months, so thank heavens i have a few pennies from gambling or i would be in a lot of kuk.

The recession is only hitting us now i think and this year will see many many companies closing their doors.
Click to expand...

Yip, I think it took a while longer than the rest of the world to hit "Home" but its here in full force now...Same boat, if business does not come in soon then its tickets.....and the problem is that I'm far to male, far to pale and far to "experienced" (a reference to my age I think) to even try and look around for anything else.

Not that I'm sitting on my rear waiting and wailing, trying everything possible to drum up business, but its just not happening. Newspapers this morning talking about 300 000 job cuts....wow...interesting times I suppose.
 
we have only made budget twice this year ... we supply the printing industry. if they are quiet, means people arent spending as much, and i'm talking about everyday stuff. so yes everything is farked up slow !
 
Yup you must just ensure you can stay around for as long as possible because it will turn, when i cannot say but everyone is so worried about this recession they are spending less which means the recession is actually a lot worse than it should be due to the scare factor the media have created.
 
garyb01 said:
I own a small electronic security business, been doing this for over ten years, and things have never been this bad before. Installations and contracts being cancelled by clients due to lack of money, hardly any new business coming in and cash flow drastically down. Anyone else in the same boat?
Click to expand...

I just spoke to a guy today who also owns an electric Company, who is also feeling it apparently.... almost thought it was you :D
 
killadoob said:
Yup you must just ensure you can stay around for as long as possible because it will turn, when i cannot say but everyone is so worried about this recession they are spending less which means the recession is actually a lot worse than it should be due to the scare factor the media have created.
Click to expand...

Agree 100%! Its the when part that bothers me though....
 
Keeper said:
I just spoke to a guy today who also owns an electric Company, who is also feeling it apparently.... almost thought it was you :D
Click to expand...

Nope, but we could be twins at this moment I'm sure, equally feeling pinched, and that gut wrenching feeling of being kicked right in the same....:D
 
Same here. 99% of our clients are companies in the mining and minerals sectors and they are retrenching a lot of employees.

I am surprised they are keeping us (consultants) on, so right now we try to make ourselves as valuable as possible by assisting in retrenchment negotiations with unions, etc which management cannot do on their own.
 
Yup. Had a few deals pushed out by 6 or 12 months. 3 of them talked about being out of the recession by April 2010.
 
Still sitting tight here.

We've cut out all unnecessary expenses (medical aid, etc :eek: ) a long while ago in order to survive as my salary wasn't adjusted with the recent fuel and food price hikes.

Also, we've managed to pay off most of our debts so far, barring the house bond.

Those who still got a good job with good pay, count yourself blessed as most of us are struggling to make ends meet, or have to hunt for work...

Those without work, I do hope you'll be able to find a secure job...
 
Hopefully this recession teaches small and medium businesses to save during boom times to tide them over in the bust times.

Companies were going crazy a few years ago and made the mistake of thinking it was always going to be like that.
 
We still waiting for increases that we were suppose to get in Feb. Times are really tough and the publishing industry is feeling it. Motor industries have stopped advertising with us as they have cut their budgets by 50% some even more so.

They reckon 300 000 jobs will be lost.
 
Our company seems to be getting too much work.... in Africa and South America... emerging markets....
 
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