Please visit for confidential help and insolvency advice or email

Thursday, 18 September 2008

What a week!

So since my last Blog entry 10th Sept. (sorry been busy) we have seen cataclysmic events in the banking sector.

Lehman Bros, HBOS, Merrill Lynch, AIG, all effectively bust.

When asked if he thought any other big banks would fail/be gobbled up or merge a banking expert said last night "I don't know its only Wednesday"!

The stench of fear is driving things now, I have been predicting crisis for months, but I am frankly stunned at the names that are toppling over. Where will it end?

For SME business people (my client base) I am predicting the following

  • Less credit availability
  • More expensive credit
  • Many will fail because their banks have lost control and pull in lending to SME's

In the last 12 months we have been warning business people to cut costs, cut costs and cut costs. Manage cashflow daily, make sure your debtors pay on time. Boy at times I thought we were barking up the wrong tree, seems not.


No comments :

Post a Comment

Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at If you are a professional advisor with a troubled client, please suggest they visit or contact me as above.

Web Analytics