We could be mistaken for thinking the business world is about to end with headlines like these; Profit warnings ’seven-year high’, UK slump ‘is worst for 28 years’ and Profits ‘tumble’ at finance firms.
But although the market conditions are difficult it does rather depend on the industry and niche you are in, there are alway winners and loosers with any extremes of market conditions. Here are some of the winners:
Poundland sales rose 24.3% during Christmas including new store openings and they have plans for “significant” growth in 2009, creating 30 new stores and 1,000 jobs.
Domino’s Pizza UK and Ireland has reported strong growth in profits as cash-strapped consumers choose takeaways instead of eating out. Pre-tax profits rose 32.7% to £10.9m.
McDonald’s is creating 4,000 jobs in the UK after proclaiming itself more “recession resistant” than most retailers.
Aldi and Lidl enjoying annual sales growth of 19% and 14% respectively in June 2008.
So now is still a great time to start a new business, think about this if you can survive while things are difficult then you will fly when things pick up.