BUSINESSES REACTING BULLISHLY TO THE CREDIT CRUNCH
DESPITE the pressures, businesses
in the North West appear to be reacting bullishly to the credit
crunch according to a new study released on 14 April 2008. When
asked to state their future optimism, over three fifths (63%) of
businesses in the North West said they were confident about the
future of their business.
The research by The Credit Show, the UK’s largest exhibition and
conference dedicated to professionals associated with the consumer
and commercial credit arena, shows that SMEs, including businesses
in the North West, plan to expand sales in the UK on average 56% in
the coming year.
The study is based on detailed online interviews with 117 small and
medium sized businesses. The businesses were drawn from across the
UK and from a mix of sectors.
In general, the study paints a picture of an SME community in
bullish mood. Just under half plan to expand into a new area in the
next 12 months and a further 37% will recruit new staff. Over one in
three plan to launch a new product or service and only 1% plan to
scale back their operations.
The survey highlights a real audience
split with some SMEs noticing the effects of the credit crunch on
their business and others seemingly untouched. For instance, the
report showed that 28% say that they are now finding it harder to
borrow from the bank, whilst 38% of respondents from the same survey
admitted to not noticing the credit crunch.
However, there is no doubt that some SMEs are feeling the pressure
of the credit crunch. For instance when asked what changes their
business had noticed in the last 12 months, the top response with
56% was that suppliers had increased their prices. With other half
of suppliers increasing their prices this will have a huge impact on
the supply chain, affecting further
businesses throughout the UK.
Despite being under pressure from suppliers, many feel unable to
increase prices with their own customers, especially as many are
facing weakening demand. Only 18% say customers are buying more on
credit, and over half of SMEs (55%) admit that their customers are
more and more frequently looking for deals or asking for discounts.
Kamala Panday, Publisher of Credit Today, organisers of The Credit
Show comments:- “For some, the credit crunch is beginning to
bite. However this survey shows that their hunt for growth has not
been affected. Businesses are now playing a more strategic game,
with over half admitting to chasing slower payers more vigorously.
What’s encouraging to see from our point of view is the increasing
role that the credit control function is playing with the SME
Indeed with over half of SMEs saying that the credit control
function has become more important, and with 30% tightening their
grip on their credit control function through introducing stricter
credit terms, credit issues have never been as important as they are
today with SMEs.
Through further analysis of the findings by business age, the report
identifies how the value of experience cannot be overestimated.
Businesses that have been operating for more than 3 years and have
perhaps experienced previous tough times are more cautious about
over-stretching themselves and are acting in a more responsive
manner. For example 61% of these businesses are chasing slow payers
more strongly, almost the same number see the control function as an
important part of the
business (59%), and they are far more likely to take non-payers to
court than those running younger businesses.
On the other hand SMEs who have been operating for less than 3 years
are more focussed on moving into new markets and recruiting new
staff (49% and 43% respectively).
Kamaly Panday added:- "This is great to see from young
businesses. However these businesses need to take care; the flip
side of this expansion is greater business exposure, which could
cause problems considering the current climate. If they are going to
move into new markets more actively, they should do so with good
credit management procedures in place. Otherwise they could come
At the Credit Show this year we are more focussed than ever on the
SME community, and this report will help us shape and develop the
Show even further. In general, the overall picture is one of
optimism, and it’s great to hear of the bullish mood that SMEs are
in today, especially as they are such a vital part of the UK
Creamfields festival 2008
THE worlds ultimate dance
festival Creamfields gathers more speed as day tickets to the most
exhilarating weekend of the summer go on sale on Monday, 21 April
2008. After announcing the most diverse line up to date, the running
order for August’s hottest dance weekender is now confirmed and
Creamfields festival breaks a new dawn in live events marking a
decade at the top.
Celebrating 10 years as the world’s most influential festival
promoters, Creamfields have put together a stomping bank holiday
weekend with boutique camping and a revolutionary line up including
Kasabian, Fatboy Slim, Ian Brown, Paul van Dyk and Tiesto.
Top Swedish producer Eric Prydz, recently known for his
chart-topping hit ‘Call on Me’ has just been added to the line up
along with even more delectable DJs. He joins other new additions
Sander Kleinenberg, Nick Warren (Global Underground), dance press
favourite Wally Lopez, Dutch maestro of drum & Bass Noisia and
Brighton’s finest Friction.
Explosive anniversary celebrations at Creamfields 08 are weird and
wonderful with contortionists, fancy dress, art exhibits, pamper
trailers, BMXers, skate ramps, fun fair, boutique camping with tipis,
beach huts, solar powered pod pads and 2 days of the worlds best
bands and DJ’s set over 10 action packed arenas.
The perfect blend of dance, electro and indie mixes over the weekend
with Paul Van Dyk heading up Saturday and Tiesto on Sunday
delivering a dance lovers dream bank holiday, watch this space as
Creamfields have another 15 sterling artistes to be announced next
week. So without further ado here’s the moment you’ve been waiting
SATURDAY 23 AUGUST
Fatboy Slim / Ian Brown / Paul Van Dyk /
Pendulum / Gossip / Simian Mobile Disco / Erick Morillo / Sasha /
2manydjs / Eric Prydz / Pete Tong / Dubfire / Hernan Cattaneo /
James Zabiela / Felix Da Housecat / Annie Mac / Luciano / Adam Beyer
/ Claude Von Stroke / Danny Howells / Judge Jules / Tom Novy / Roots
Manuva and DJ MK / The Presets / Yousef / Wally Lopez / Mason /
Tocadisco / Henrik B / Andy C / Marky / Hype / High Contrast /
Skream & Benga presents Magnetic Man / Noisia / Friction / Laidback
Luke / Gareth Wyn / Harry Choo Choo Romero / The Whip / Rob Tissera
LIVE / John Kelly / Matt Hardwick / Tidy Boys / Lisa Pin Up / BK /
Mark EG / Amber D / Alex Kidd / Kutski / Tidy DJS / Ben Stevens /
Paul Maddox / JP & Jukesy / Kym Ayres / Rodi Style / Morgan / Alan
Hartley / Anton Powers / MC GQ / MC IC3
SUNDAY 24 AUGUST 2008
Kasabian / Tiësto / Underworld / Soulwax
/ Chic feat Nile Rodgers / Paul Oakenfold / David Guetta / John
Digweed / Ferry Corsten / Eddie Halliwell / Steve Angello / Axwell /
Sebastian Ingrosso / Sander Kleinenberg / Sander Van Doorn / Nick
Warren / Deadmau5 / Kissy Sell Out (LIVE) / Dirty South / Dave Spoon
/ Peter Hook / Mike Pickering / Graeme Park / Dave Haslam / Jon Da
Silva / Adam Sheridan / Andy Mac / Yacht / Groovenatics / Baggi
Begovic / Funkerman / Oliver Twizt / Bart B More / Benny Rodrigues /
Nuno dos Santos / Warren Fellow / Darko Esser
Arena hosts include MAIN STAGE / CREAM & GOODGREEF / CHIBUKU & ANNIE
MAC PRESENTS / SKINS / SWEDISH HOUSE MAFIA / RADIO 1 / APE / RADIO 1
‘INTRODUCING’ BUS / TIDY / SUBLIMINAL and the HOSPITALITY ARENA
HOSTED BY CREAM & HACIENDA
Coronation Walk, Southport is cornered off after a RTC
A red Vauxhall Astra and a blue
BMW were involved in a crash on the corner of Coronation Walk, and
Lord Street in Southport.
The crash happened at around 4pm,on
Sunday 20 April 2008. As a result Coronation Walk was sealed off by
We are trying to get the full official
information about the crash, but it is believed a motorist had a
heart attack at the wheel.
It is also reported that several
members of the public rushed to the man's aid and administrated CPR,
before Paramedics took over.
We will bring you a follow up in next
week's issue, when the official information is released to the
Seven charged in
connection with Rhys Jones murder
ON the 16 April 2008, Merseyside
Crown Prosecution Service and Merseyside Police announced charges
including murder and assisting an offender in relation to the death
of Rhys Jones.
Helen Morris, Crown Prosecutor, said:-
“Working with the Chief Crown Prosecutor for Merseyside, Paul
Whittaker, I was briefed on this case at a very early stage and have
been working closely with the Merseyside Police since August last
year when Rhys Jones was shot..
As this case has developed we have been carefully examining and
assessing the evidence in order to come to a charging decision at
the earliest possible opportunity.
Having carefully considered all of the material supplied by
Merseyside Police, I made the decision that there was sufficient
evidence and I have authorised that five people should be charged.
At this time I would like to remind you of the need to take care in
reporting the events surrounding this case.
All those charged in this case
have the right to a fair trial.
It is extremely important that there should be responsible media
reporting which should not prejudice the due process of law.”
Assistant Chief Constable Patricia Gallan, of Merseyside Police,
said:- “We have got to this stage in the inquiry through
painstaking, determined investigations.
It has been a complex inquiry
which has been supported throughout by Rhys' parents Stephen and
Melanie and the wider Merseyside community.
I'd like to take the opportunity to recognise the hard work of
Merseyside's police officers, in particular the SIO Detective
Superintendent Dave Kelly, and Merseyside Crown Prosecution Service,
in bringing the investigation to this stage.
Police officers and staff have been working tirelessly behind the
scenes since day one.
It's now a matter for the courts,
and we will await the outcome of future trials.”
Senior Investigating Officer for Merseyside Police Detective
Superintendent Dave Kelly added:- “As Helen Morris has just
outlined, we have brought significant charges today.
As Assistant Chief Constable Gallan has said, it has been a
complicated inquiry, which is reflected in the number of charges.
I would personally like to thank Stephen and Melanie Jones for their
patience and support.
They have shown courage, strength
and dignity during what must be a truly terrible time for them.”
* 17 year old male charged with murder of Rhys Jones
* Two men charged with assisting an offender (Melvyn Coy, 24, and
Gary Kayes, 25)
* Two youths (both 16) have been charged with assisting an offender
(one of these has also been charged with possession of a firearm)
* Merseyside Police has also charged 20 year old James Yates from
Croxteth, with assisting an offender. He is due to appear before
Liverpool City Centre Magistrates Court on Friday 18 April 2008.
* A 17-year-old male has been charged with assisting an offender
* We are considering a charging decision in connection with another
17 year old youth
* Three adults (50, 49, 54) and one youth (16) have been released on
bail for further consideration, in addition to the 22 year old male
who was bailed on 15 April 2008
* One male aged 20 remains in custody and questioned by police
arrested on 16 April 2008
* One woman (21) released without charge.