Recession - Lets Fight It in Falkirk.

[Jack Marshall]

Many people are rightly worried about a coming recession, what might happen and what to do about it. I have posted a few tips on our site's notes page that apply at a more personal level, but nevertheless relevant.

Along with this however I believe this site is a great place to start firing up suggestions and ideas now on how we can meet the challenge of recession head on.

For instance our Scottish Government has made a great start with Homecoming 2009 where anyone and everyone with some connection or affinity with Scotland is being invited to come to Scotland next year to join in a huge national celebration of events. Each of us is being invited to send invitations, emails, blogs, (carrier pigeons?) to friends, family, long lost aunties and uncles to come here and join in a national year of celebration - The biggest homecoming event ever on the planet. The boost to the Scottish Economy could be massive and it is up to us to get behind it and "make it rock".

So come on folks what else can we do - Please send your suggestions - I will personally put up 2 nice wee prizes, one for the best and one for the most creative, "off the wall" lateral thinking, brainstorming (even daft) suggestion ever.

This is a Link to the Scottish Homecoming Site

[Karen Campbell]

OK Jack,
Will put my thinking cap on I like a challenge !!!!!!!!!!!
Karen

[Val Trotter]

Hi Jack

There is no doubt that the current financial situation has had an impact on many bsuinesses.

I refer you to my blog "IS THE GLOBAL FINANCIAL SITUALTION AFFECTING THE WAY WE THINK ABOUT JEWELLERY?"

As entrepreneural business people we have to take this opportunity to really think about what we are doing and how we are doing it. Perhaps looking at different ways of marketing, or offering something different to get talked about. Word of mouth is the cheapest and best form of advertising.

The Scottish Homecoming is a fantastic initiative and I am thinking of ways in which we could use it to promote our businesses.

[Colette Filippi]

Like the idea Jack to link with the Homecoming events - is there something we should be doing specifically in Falkirk and promote the business community of Falkirk, It could be linked into a FBP event next year? Lets talk at the LG meeting. Colette

[Jack Marshall]

Hi val,

I assume that you are maybe already thinking about a souvenir jewellry design for Homecoming 2009. If you do and if it helps I can let you have a contact for maybe a Press release and maybe an ad' in the Scots Independent or even a referral to HQ Staff at the SNP who regularily have meetings and contacts with local branches who are always looking for ways to generate funds.

Give me a call if you think there might be mileage in it for you to have a "blether".

Best regards - Jack

[Dorothy Henke]

Well done Jack for starting this. When we look at the last recession, the businesses that came through were those with sufficient resources to survive. We normally think of business resources as equity, cash, equipment, people, premises - i.e the tangible things we need in a business. But have you ever considered knowledge and information as a resource? Richard Lambert of the CBI commented on the "absolute necessity of raising the national skills and knowledge base at every level". On the 1st January he predicted a difficult 2008. CLICK HERE for full article. So what can we do to improve our knowledge and make sure we are making the best decisions? The answer is that you have to take time out from the day to day operations. To ask yourself questions about your personal effectiveness and your employees contribution to your business. Or, for example, to ask yourself questions about the return on your current marketing spend.

There are numerous ways to increase your knowledge. Read books, listen to CD's in the car; view business related videos. In Falkirk we are lucky to have so many resources on our doorstep.

FEAT runs a series of business related events from start-up training through to special workshops for established businesses. On the 29th October there are two events where you will not only get ideas for improving your business but meet other businesses in the area. Sometimes it is the tips given by fellow entrepreneurs that can make all the difference. There are other organisations which should be investigated also: e.g. BNI, Small Business Club and Business 9am.

So in summary, check out the numerous events on this website. Find books which can make a difference (I would recommend Brian Tracy EAT THAT FROG for using time more effectively!). Don’t get bogged down in day to day tasks. Remember the definition of insanity is “Doing the same thing over and over yet expecting different results”.

Finally if you are a growing business and meet the criteria, join FEAT’s Growth Club. You can view the overview video and apply online at www.bgclub.co.uk.

[David Pettigrew]

That sounds like a brilliant idea Jack, have the biggest and best kilt swinging party of all time! Not so much a street party, but a sporran party!

I am sure Tapside has been around long enough to remember the last recession in the 1980's and you came through it and survived, just like Microspec.

We believe, just as I am sure you do Jack, that having a positive outlook in business is essential. I am afraid we cannnot always control what happens to us in our lives, but we do have total control on how we deal with these things.

It's all too easy to get depressed when the news comes on these days, but if we all keep optimistic then the chances of surviving and thriving are far greater. We really do attract what we think and no-one can convince me otherwise.

Three years ago, when the economy was very different, we at Microspec decided it would be a really good idea to work towards achieving the Investors in People Standard. We were thrilled to be told that we exceeded the standard we had worked towards in a number of the areas. Our three year review was due 2 weeks ago and again we have exceeded the standard, which is great. Without wanting to blow our own trumpets, it has reassured us, as a team, that we have a significant contribution to make to the business world in Scotland. It is also reassuring to know that the team at Microspec is still delivering a high standard of service to its clients expecially after 26 years!

Partly as a consequence of our successful IIP assessment, Microspec in conjunction with ACT! by Sage has decided to hold a FREE event at the offices of FEAT on the 13th of November from 9.30 am till 11.30 am. Details of this is on the Events page of NING.

[John.]

Hi Jack,

Recession eventually affects all but coffin makers so I think that rather than worry about it people should face the challenges recession brings.Cynically or otherwise I feel that what happens in the south east of England does not represent the true picture over the rest of U.K.(Scotland!).'America gets a cold;London sneezes' should more accurately describe things in Scotland.I know many local businesses who are asking 'what recession?' including my own so its not doom and gloom altogether.Yes,I agree that there is a global problem but I ask the question pertaining to the stock markets...how many people in Scotland actually care when the markets tumble,expressed as a percentage of the population? I bet there are a lot care because they feel they should care just because they watched it on the BBC news.The media feeds the popullus what they deem relevant to further their own ends and as history will show,bad news sells better than good news.To summarize,an asteroid a mile across on a collision course with Earth does affect us all with devastating results,but a recession has a smaller impact crater and as such this should be highlighted to give hope and
a feeling of prosperity.
Rant over!

Best wishes,

John.

www.nebulasounds.co.uk

[Jack Marshall]

Hi John,

Of course some people will be better off than others however I assure you that the current evolving pain goes beyond media reporting. I have have seen a lot of hardship already and whilst I don't want to name Companies individually, because in many cases they are my customers, I know that during this past week or so that sixty five have been laid off (35%) from the workforce in a local company and 500 laid of at another well known national company. In the latter case their orders to us collapsed overnight after 20 years of trading with us on a regular monthly basis, In this case a manager with whom we had a very good working relationship phoned me to say thanks for our service and to tell me that within the past month his Company had gone from 3 shifts to close down. A few days ago a well known Falkirk Company laid off 50 staff and a few of our smaller catering customers have simply closed their doors and walked away. I also know of another Company whose pension scheme has been decimated because of the collapse of one of the Banks. These are all Scottish Companies

Having said all that you are also correct in saying that it is not affecting everybody (yet) however my hope is that we might raise some positive suggestions through this forum to help where it does.

Thank you for widening the debate.

Best wishes - Jack

[John.]

Hi Jack,

Thanks for reply.

As a printer to trade and having worked in said trade since 1979 I recall my seniors at that time saying that prior to a recession the printing trade suffers first but recovers first when things are about to improve.The recession in printing trade in Scotland started three years ago and many famous names in Edinburgh went down,firms that were established for 100 years or more and considered bullet proof.This intial 'recession' in the printing trade went unoticed by the media as such although local Edinburgh newpapers did cover some of the redundancy stories.Pillans and Wilson merged with Waddies to create one of the biggest printing companys in Scotland,three years ago.William Nimmos,also of Edinburgh printed the VAT 69 whisky labels for well over 100 years but four years ago United Distillers sold out to Adagio (spelling might be out!) and the printing of these labels went elsewhere,the result being that Nimmos closed it's doors with the loss of 34 jobs.The Royal Bank Of Scotland were at one point a customer to another Scottish printer but it has been suggested that they get all their printing needs resolved in America!

So to conclude,I have been through the early stages of this recession long before people new it was coming so now I think people might look to the printing trade in Scotland for the first signs of recovery.Keep printing local!

Thanks Jack.

John.

www.nebulasounds.co.uk

[Val Trotter]

Hi
Like many others I have lived, worked, been redundant and changed course several times throughout the recessions of the 70's,80's and 90's and survived!
Everyones comments are spot on and we all face many challenges ahead, but didn't we anyway?
I feel its important that we do not loose sight of the aims and objectives we had set for our businesses prior to this all kicking off. The plans were good then why are they not now? I do understand its more difficult now and that cashflows are tight for most of us but we must not get sucked in by all the media coverage and negativism that surrounds us, it will only distract us from our plans.
We in retail are the current target of the news, but it was interesting to watch news at ten the other night when a reporter tried hard to get Phillip Green to say his businesses (Top Shop etc) were in trouble and faced imminent collapse. Yes he was 6% down but he is continuing to open stores and refurbish others, and was looking to acquire other businesses. His mantra seemed to be make sure you give the customers what they want!
This does not just apply to products but also to customer service and in terms of price not simply cost but value for money.
There is still a lot of money out there, some people are holding back on spending but my observation is that others are coming to a conclusion that they may as well spend it as loose it in a bank or shares, providing they are offered the right products at good value.
To sum up I feel that those businesses that batten down the hatches and wait for the good times to return will suffer most, those of us that grasp the moment and work even harder to satisfy our customers will flourish.
I would love to see a lot more local business to business trade, we need some kind of local directory it has been talked about before, so how do we get it together - through this site? can feat help? scottish enterprise? the council?
Look forward to reading the comments of others.
Kevin
Pebbles Retail Ltd

[Cameron Ferguson]

I agree with Val that in hard times businesses could help one another by dealing locally with one another. A local business directory would seem to be the answer.
The problem is that a directory quickly goes out of date and is therefore useless after a period of time. It is only any good if the businesses keep their information up to date. Non trading businesses do not remove themselves from the directory. The other issue is getting businesses to engage in a DIRECTORY.

I do note however that a number of members have started using this site when the have a need.

The replies to these requests would indicate that there are a number of members of FALKIRK BUSINESS who have the answers or know someone who can provide the answers.

If members used this site and formate to satisfy their needs the replies are from active companies most likely to meet their demand.
This means it cannot go out of date.

I would therefore suggest that as many members as possible start putting their requests on this site.
This way more local businesses will deal locally.

Cameron

[Jack Marshall]

Hi everybody,

Thanks for your contributions - It will be great if we can continue to wind it up. Here is a link to a short video that re-enforces the points made by Val & Cameron about the multiplier effect of local trading i.e. How spending your money locally puts money into your own pockets. Click here

The undernoted is also a copy of the opening paragraphs that I originally put onto the notes page:-

Economic recession may be a normal part of the economic cycle but this does not mean that it is easy dealing with it. In fact, a lot of people have already been burned by this problem. Times are tough in the country and more and more people are feeling the heat of impoverishment.

With the problems in the building industry and the job losses that have occurred all throughout the country, more and more people are getting worried about what will happen to them. Essentially, if you have a stable job, it will not be a problem for you. But this does not mean of course that you should just waste away and not do anything about it. All people will be affected one way or the other. It is how we deal with the problem that will determine survival. So how do we survive (and even prosper) in times of economic recession?

That my friends, was the question.

With kindest regards - Jack