
I have recently had two interesting conversations, one with an accountant and the other with a bank manager, both younger men than me and both with no real recollection of the severity of the recession in the early nineties. That recession lasted for at least four years, during which time our turnover halved and we lost a lot of good customers with well run companies who were forced into receivership. I vividly remember regularly reading stories of wrecked lives and shattered families within the construction industry.
During this latest recession, caused by a totally different set of circumstances, our turnover was reduced but I’m pleased to see that the majority of our customers are emerging with a healthy workload, which is not an accident. I’m fairly sure that like us there has been a lot of operational reviewing, rationalisation and a renewed focus on sales and marketing and customer retention.
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