The Credit Crunch – What Does It Mean To Local Business?
Everyone is using the phrase the “credit crunch” but just how will it affect business in the south west? Foot Anstey’s seminar, ‘Changing Times’ will help businesses prepare for this change in the economy.
Speakers will review the current economic situation, look at the future, give tips on how to safeguard business and answer questions.
David Turner, Head of Litigation at Foot Anstey explained “The credit crunch is apparent at all levels of business. From start ups not even reaching the first rung, as investors cannot raise the money, to established businesses not able to maintain their cash flow.
In addition, the long boom in the residential property market, something which is an almost national obsession is now at an end. Despite cuts in official base rates, mortgage rates are still rising with lenders finding it more and more difficult to borrow money on the wholesale money market. A fall in residential house prices are predicted and lenders are withdrawing credit card facilities.
A similar problem in the commercial market means lenders are no longer giving businesses latitude if they fall behind in their repayments and are taking a hard line at a very early stage.
The seminars are taking place in each of our office locations please click on the relevant location for more details and booking information.
Exeter
6th May 2008
Speaker: Stephen Hobson, Francis Clark
Chair: Simon Gregory, Foot Anstey
Taunton
6th May 2008
Speaker: Stephen Hobson, Francis Clark
Chair: David Turner, Foot Anstey
Plymouth
13th May 2008
Speaker: Stephen Hobson, Francis Clark
Chair: Robin Brown, Foot Anstey
Truro
13th May 2008
Speaker: Brian Payne, Bishop Fleming
Chair: Mark Chanter, Foot Anstey Hancock Caffin
