Author Topic: Businesses the have acted the cnut during the Coronavirus Outbreak  (Read 15241 times)


Milltown Row2

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #76 on: March 29, 2020, 06:04:29 PM »
What small business has 4 billion handy?

Running a business on small margins is not the same as running a small business.

So if I owned a coffee cafe place,  had four workers managed to get a wage pay wages and rates and so on and the margins are about 4% profit after that thatís not great?

At a time like this? Evidently not. Ever read, or even heard of, The Black Swan?

No one prepared for a time like this, people have the balls to give it a go and making a living out of working for themselves and earning a living for their local employees. If you had that attitude youíd never try and own a business

you have to hedge for uncertain times though, this is certainly worst case scenario, but fail to prepare, prepare to fail and all that  8).
banks are mainly to blame having said that, far too much easy credit still

There are smarter people out there than the experts on here who didnít prepare for a world wide shut down, some experts here though
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marty34

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #77 on: March 29, 2020, 06:45:13 PM »
What small business has 4 billion handy?

Running a business on small margins is not the same as running a small business.

So if I owned a coffee cafe place,  had four workers managed to get a wage pay wages and rates and so on and the margins are about 4% profit after that thatís not great?

At a time like this? Evidently not. Ever read, or even heard of, The Black Swan?

No one prepared for a time like this, people have the balls to give it a go and making a living out of working for themselves and earning a living for their local employees. If you had that attitude youíd never try and own a business

Very true MR2 - in America, if you go bankrupt, you're looked on as a type of 'hero'.  In so much that you tried to make a go of it in business e.g. you tried the American Dream.

grounded

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #78 on: March 29, 2020, 07:27:46 PM »
What small business has 4 billion handy?

Running a business on small margins is not the same as running a small business.

So if I owned a coffee cafe place,  had four workers managed to get a wage pay wages and rates and so on and the margins are about 4% profit after that thatís not great?

At a time like this? Evidently not. Ever read, or even heard of, The Black Swan?

No one prepared for a time like this, people have the balls to give it a go and making a living out of working for themselves and earning a living for their local employees. If you had that attitude youíd never try and own a business

you have to hedge for uncertain times though, this is certainly worst case scenario, but fail to prepare, prepare to fail and all that  8).
banks are mainly to blame having said that, far too much easy credit still

Honestly, how many businesses that you personally know or are involved in had preparations for a global pandemic and the business unterruption that it would involve?


RadioGAAGAA

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #80 on: March 29, 2020, 10:06:14 PM »
What small business has 4 billion handy?

Running a business on small margins is not the same as running a small business.

So if I owned a coffee cafe place,  had four workers managed to get a wage pay wages and rates and so on and the margins are about 4% profit after that thatís not great?

At a time like this? Evidently not. Ever read, or even heard of, The Black Swan?

No one prepared for a time like this, people have the balls to give it a go and making a living out of working for themselves and earning a living for their local employees. If you had that attitude youíd never try and own a business

you have to hedge for uncertain times though, this is certainly worst case scenario, but fail to prepare, prepare to fail and all that  8).
banks are mainly to blame having said that, far too much easy credit still

Ach naw, be realistic - you cannot really prepare for this.

Yeah, depending on your business type, you could have some measures to mitigate - i.e. already all set up for remote working. But if you run a cafe - that's just not an option.
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illdecide

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #81 on: March 29, 2020, 10:22:17 PM »
Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).
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marty34

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #82 on: March 29, 2020, 10:35:34 PM »
Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).

That's tough alright.  Tough on everybody.  Pity they won't cut you a bit of slack until things, which they will, get going again.

A lot of business' in the same boat these times - just need to see some light at the end of the tunnel.

How are the banks - are they understanding or just ruthless?

screenexile

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #83 on: March 29, 2020, 10:54:48 PM »
Banks are getting right stuck in in the UK anyway loans up to 8% and the like... c***ts!!

Milltown Row2

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #84 on: March 29, 2020, 11:39:40 PM »
Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).


This unfortunately is the real reality, I really hope that you get sorted along with the rest of those that have the balls to set up a business,

I looked into this about 6/7 years ago. Ready to go and risk everything into a 20% yearly profit business. Things during negotiations didnít go the way I wanted them and I opted out.

But....

according to some experts on here you should have knew that a pandemic was on the way and created a billion quid to back things up!

Anything I post is not the view of the County Board!! Nobody died in the making of this post ;-)

Dire Ear

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #85 on: March 30, 2020, 01:22:10 AM »
Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).
Good info here, nibusinessinfo.co.uk  good luck

balladmaker

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #86 on: March 30, 2020, 01:58:11 AM »
Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).

I canít see how the landlord wonít do a deal with you until things getting going again, I canít see the landlord having any better option in the current climate.

Same for the DDís ... donít know what the nature of the DDís are, but if theyíre for bank loans then you should have an option to take a payment holiday in the current climate?  If to suppliers, then hopefully theyíd work with you.  Either way, do whatís best to protect the business, business relationships usually find a way of mending themselves.  Good luck!!
« Last Edit: March 30, 2020, 02:02:22 AM by balladmaker »

screenexile

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JohnDenver

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #88 on: March 30, 2020, 08:55:30 AM »
Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).

I know this won't help your situation, and i hope you can get sorted out someway with as little damage as possible - it's more to mention the David McWilliams Podcast.

I don't know the technical ins and outs of economics, but he was basically saying that the current method isn't working of ECB lending to banks in a form of quantitive easing, who then want to lend to people and business.  He reckons the money should be given directly to businesses or even people's bank accounts, to avoid job losses as the human effect of the job losses etc can't be quantified - and that essentially the money can be paid for at a negative percentage.

He's worth a listen, and it's generally appealing and well explained without going too deep into fancy economic terms.

Good luck illdecide!

Franko

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Re: Businesses the have acted the cnut during the Coronavirus Outbreak
« Reply #89 on: March 30, 2020, 09:38:29 AM »
Franko re Creagh Concrete. Go back to your very first paragraph  where you admit that you cant guarantee the accuracy of the statement that you then go on to post.

Would you please remove your post altogether until you have correct information. This is a slur on a reputable company and I'd be very concerned about the legality of putting this information on here until at the very least you could confirm its authenticity.

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