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?

I think location will have a lot to do with it. London, for instance, will probably weather it better as there is lots of money there. Other smaller towns not so much.

I agree

Must be doing the posters who work in all the professions here the world of good...

Perhaps the huge amount of estate agents recruited to service the glut of properties that came to the market during the stamp duty holiday? We have been gazumped / outbid over asking price many times since January. However I have noticed that everything we viewed in March is still available at a 20% increase over last year. The market is slowing. My local agent has just let two people go due to falling instructions. In 2008/2009 nothing dropped in price here (1hour from London) people just stayed put. We are buying for the long term and I only shop local. We have agreed to spend less on our new home as mortgage rates have increased 50% since March. We lost our home in 2009 and it effected our lives for a decade.

Because if if we all keep quiet as church mice and don't mention it then it won't happen?

Do me a favour, save your righteous indignation for those who have caused this rather than anyone discussing it.

What do you think's going to happen when unprecedented energy prices are completely unreasonably unaffordable for households and businesses? Everything's going to carry on as before?

@PolPickle

Sectors that use energy and or rely on people having money to spend are going to take a huge hit. Surely that's just a self-evident common sense fact. It's in the news every day that the majority of pubs/chip shops/kebab shops etc are expecting to have to close their doors.

The bad is that it's happening. Not that we're discussing it.

Upcoming crisis? What crisis? Stop watching BBC overhyping bullshit. Just live your life. There’s no crisis. Yawn…..

I read somewhere that makeup sales tend to go up during hard times, as we may not be able to afford a Chanel bag anymore but we can probably treat ourselves to a lipstick, that sort of thing. I think make up and alcohol sales will go up 😢😂 or at least remain stable

I think fashion will suffer.

Thinking about what I’m going to cut down on myself:
fashion
eating out
take away coffees
gym/exercise (will do online workouts from home)
will definitely meal plan more carefully to cut down on groceries

Things started really going to pot between 2010 and 2020, and then got worse.

That's what I don't understand about the national debt, the Conservatives are supposed to be the party that is good with the economy, we endured the Austerity project for years and yet the debt just kept on growing and growing at a pretty swift rate. Add on the sudden, some would say socialist, anti-austerity measures they found the money for during Covid and boom, we are where we are.

What they say and what they do diesnt always match though does it?

After all, Boris Johnson told us he had signed a fantastic deal with the EU and post Brexit we would be living in a high wage, high skill booming Britain, with cheaper food and energy and higher environmental standards for things like sewage on beaches...

Hopefully totally wasteful bitcoin

I asked an estate agent I know if he thought EA would start listing houses do they're searchable by EPC. He says no: the new builds are too unattractive for rich people and they all like energy inefficient old houses and can afford them.

Prostitutes.

You are being unreasonable for assuming a fait accompli.
How can we all be so blindly accepting of the government’s decision to plunge us into this state of emergency when it can so obviously be averted by a windfall tax on excess profits of fuel companies? There’s a war in Europe so yes, we all have to pay some but there are huge profits being made. We need to make more noise about this.
There will be some gleeful hand rubbing at responses here - seems mumsnet has already accepted it….
I’m not ready to accept that we are going to roll over to this.

@MrsRobinsonsHandprints
20% VAT?
Not for small businesses. It's 5%

I heard on the radio of someone who was using washing up liquid as they couldn’t afford shampoo. Yet some people on here are saying they will maybe go to the hairdresser once every 12 weeks instead of 6 as a means of saving money. There is a huge divide in society and I feel for those who really have no safety net. Hairdressers and nail treatments are way out of many people’s budgets.

Divide is the key - beginning with the bumper profits of fuel companies compared to the vast majority of us here. It’s part of a larger shift of social subconscious acceptance of very rich v very poor. The middles facilitate.
Any business which isn’t already making a substantial profit would suffer if this were to happen - no surprises there.

No, it’s not the same. Can dry out hair hugely , but I understand why people will substitute.
Hope Truss will help small biz but not holding out much hope……so guess a load of hair salons, nail bars, cleaners, etc will fold up. Hope Truss has a hairdresser that SHE can support at least…🙄

Yup.

Not at all directed at you. I am being frugal myself in using cheaper liquids for washing up, around the house.
re hair it can have a drying impact as a lot of women have coloured hair. A decent shampoo is fine and and a good conditioner as you can afford.
im an Aldi B&M , home bargains advocate those days.

Trouble is its a vicous circles isnt it?they have put their prices up bevause of costs,but this means we xant afford it.the chippy to us used to require no thought REALLY,it was a lovely family tea option.now though it just can't happen.a sausage is £3!!!

I think it's also about only buying one thing if that makes sense.so they can't afford to buy a cheap shampoo and cheap washing up liquid. but they know they need the washing up liquid therefore they've got that. they can't get the shampoo as well no matter how cheap it might be?

VAT is 20% for small businesses too. Why do you think they have a special 5% rate - they don't!