Credit crunch in the Ipswich area
3rd September 2008
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Do you run a small business in the Ipswich area? Is success twice as hard to achieve since the credit crunch hit the UK in August 2007? Are you finding your business mentality moving into survival mode?

There should be many positives from running your own business such as you control your own destiny and your working hours. Your efforts should be rewarding and enjoyable but recently life has become tough.

One major result of the credit crunch is businesses battening down the hatches, minimising costs and waiting for better times. All sectors seem to be affected, even solicitors (Did you hear the one about a solicitor and .......?).

It started with the American sub-prime mortgage scandal and has moved on to affect the decision making of all the UK banks and finance providers. A common thought is that their irresponsible actions back then is causing all the problems now. It is a case of the high street lenders holding onto liquidity and not investing it back into UK businesses.

I haven't even started on Northern Rock yet, or the over supply of new appartments in Ipswich for investment. I'll leave that for next time.

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