Dear Members
Published: 18 September, 2009
Reward...for anyone who can tell me what happened to the summer? One minute we are anticipating great weather (for a change), had our fingers crossed the ‘credit crunch' will last as long as a box of Cornflakes and are being told that UK tourism is facing a boom year, then our media is frightening us with ‘killer' swine flu, unemployment statistics and a plague of biting ladybirds of biblical proportions....lovely! One can only imagine that shares in Paracetamol related products and distillers of Lambrini are worth investing in at the moment, but ‘playing safe/being sensible' putting any spare cash in the bank (did I hear someone laugh?) is a definite no-no. Take heart those of you who lost money in Iceland (and I don't mean the weekly shop), the Icelandic government have just decided to pay you back over time, so there is good news on the horizon for some.
Without doubt many are feeling the pinch and with credit houses not playing ball, it is making it very difficult for suppliers and their agents too. Unless you pay your bills on time, you do not get insurance, and that has a massive knock-on effect down the food chain. So what can we all do about it? Sometimes it is the most obvious that we overlook. I think the key is to keep communication open and be honest if you have concerns. Don't let anything get out of hand, whether it is stock, staff levels, overhead bills etc. Monitor everything that has a cost implication to your business and be strong and tackle it. Keep an eye on competition both locally and within a 30 mile radius - you may not be able to do anything about it - and let's face it there is more competition than ever before, but your qualification gives you something very special, so shout about it and we will do our best to help you shout too - you only have to ask! If you can't beat them, join them. Whether it is adding a website to your business to ‘clear' unwanted stock, putting end of lines on Ebay, or making space in your window for ‘special offers', keep your shelves well monitored and if you have made a mistake with a style, get shot of it as quickly as possible - don't wait until the end of the season so you merely join hundreds of others trying to do the same thing. Is there a cheap way you can promote your business? Can you afford to give ‘discount' or ‘special offer deals' to big local businesses i.e. hospitals, schools, etc.? A loyalty card may cost you a little initially, but the extra business should more than compensate. What about creating a ‘trade swap' locally? - you may need some printing or cheap advertising or just a meal at the local pub - and they might need shoes - in these times our stock becomes our currency. We are always thinking about what is inside our boxes, and now it is time to think outside the boxes...but don't just think, act! If we can help, let us know....
Laura West - Secretary


