Which businesses are going to go under?

[Nobledeedsandhotbaths]

I've been thinking about the upcoming crisis and wondering which 'non-essential' businesses are likely to lose most custom once things begin to bite.

Things like:
Tattoo artists
Nail technicians
Children's party entertainers
Just for a few examples.

There are many others I would class as non-essential that will potentially be ok because their client base is the wealthy, who will be less affected by what is going to happen.

What are other people's predictions for businesses that may struggle?

Ooh, err, Missus! 😂😂😂

We have to find an extra £400 a month for our energy direct debit so I already know any kind of eating or drinking out and haircuts are going.

My line is the pets and our home I only care about our home because how else will we keep the pets?

Depends on how much they can increase their prices. Even young people with disposable income still have "ceiling" prices they won't pay over. And such places also rely on older people, and probably don't have enough youngsters to survive, even with much higher prices.

I bought this fellow a month ago. He is keeping me going.

I was paid a dividend of 1pence about a month ago from another share (partial) lol. If Sunak gets wind of the word that I'm here dealing on the sly, he'll cut me off.

You’ve received a Dividend of £0.01 in your General Investment Account (GIA) for Berry Corporation 🎉

Lol. I sold then. Haha.

No idea what sort of business it is.

Looking busy isn't enough to keep small businesses solvent. Power is often one of the largest costs and there's really often no way of surviving if that trebles in price. Not to mention huge rises in the goods they buy to sell. You also have to remember, lots of small businesses used up any reserves they had to survive 2 years of covid lockdowns and restrictions and many would have taken out loans to survive, which now need repayments too! A business could still look "busy" but if people are buying less at a time of massive hikes in costs & overheads, it may be hopeless to try to continue. POs are also notorious for being "busy" with lots of very low value transactions, so very little may be going through the till for non Post Office goods.

Oil and Gas. Shit. I should have held firm 😁

House of Fraser (my local one is a shadow of its former self! God knows how it serves with John Lewis in the same vicinity)

Animal workers, pet shops, dog walkers, kennels, grooming parlours. I think all small businesses are at risk.

HoF is now owned by the same guy who owns Sports Direct that probably explains the change in HoF quality.

Would agree with this , seems to be selling a lot more tat and constant sale on - just unsubscribed from emails as they’re constant

@TooMuchToDoTooLittleInclination Using whatever disposable income we have left to support local independent businesses, if we can.

Also the majority of chip shops have said they expect to go under which surprised me because as take aways go it’s a cheaper one. I thought people might feel like they can’t afford a Chinese but get fish and chips instead. But people apparently won’t pay £8:50 for fish and chips

Yeah I understand this feeling.

When I was growing up, a Chinese or Indian was a 'proper' takeaway/treat. Fish and chips was a Tuesday night 'cba to cook' occurrence for a couple of quid.

Now they cost about the same. I don't mind shelling out for a curry or Chinese but every time we've had fish and chips I feel a bit robbed!

I hope my local Simply Gym survives. Lots of young ones in it so fingers crossed.

Yes but it also meant that first time buyers were offered 95% mortgages and house prices dropped considerably.
Its why so many people have made a killing out of property down the line as they bought cheaply.

I’m not sure this recession has an obvious upside for anyone.

There are so many people who are waiting to buy, plus long term cash investors who will take advantage of any price drop. I don’t see much price drop this time.

Very kind of you to check. Thank you! I’m paying 22 for unlimited call and 100Gb data, which I don’t need. Shopping around for a cheaper deal.

Which businesses are going to go under?

All of them if the government does nothing.

These are all the businesses kept going by people on benefits so they will never go under. Nail shops still full to the brim. I’ve heard people on every benefit going talking about the sleeves they are getting.

There’s actually a massive shortage of skilled accountants. People are struggling to recruit. Yes basic trainee level positions may disappear so there’s an issue about how you get people qualified and experienced in future, but most experienced accountants don’t do mundane, repetitive tasks that can be easily automated.

Regarding people’s genuine fears, I agree- I have heard talk of suicide if it gets too hard, people who just will not survive.
Also people refusing to pay, but then what?
They’ll be cut off.
(People not in greatest health, older, but not of pension age) .

@Fivemoreminutes1 my husband is a driving instructor in the South East. £45 per hour.

Exactly, it's book-keepers, if anyone, who will suffer from the automation of basic accounting tasks like data entry due to bank feeds and integration between supplier/customer systems. "Proper" accountants don't do the basic number crunching, they spend their time on analysis, planning, etc which isn't automatable!

Couldn't agree more. What an awful post!!