Just getting nowhere fast...!!!

SHIMMY

Hi

I worked in the city for a large corporate company for more than 20 years, I paid my taxes and did my bit.

Just over two years ago I took redundancy and thought I'd have a bit of time off - actually I got very bored very quickly and before I knew what was happening I bought a small shop on the high street.

I put everything in to building this small business and prepared myself not to earn for the first two years. All-well-and-good...!!!

Actually things were good for the first 6-8 months, maybe I can even say not bad for the first 12 months, but two and a half years on and my business is making less profit.

People are spending much less, the passing trade is very slow, the financial climate has hit this little town and me real hard, the shop just covers the bills/wages.

I used to employ 4 part-time staff and now I only have two - I have a responsibility. The high street is dying and I feel very strongly about keeping the service I provide alive.

I want to keep my business as I've retrained and worked so hard for it - I truly believe it's bottomed out now and one day in the future things will get back on track, I feel I should keep the shop as long as the bills are met.

The thing is I'm still not earning a penny and my personal money is/has run out. Like everyone else, I have a mortgage to pay, utility bills, insurance, council tax, blah, blah, blah, plus I need to eat. Luckily I don't have any children or dependents.

The mad world in the city in which I came from don't exist anymore, the business and the technology has changed too much for me to keep up. I'm now in my 50's I can't go back to the city, there are younger people who have what I used to have, people who are more cut-throat and career minded. I'm too old to do what I did

My question is can I get any financial help, am I entitled to claim for any help and where do I go...?

Tixy

Do you operate your business as a limited company or as a sole trader/unincorporated?

Is it actually making a loss on paper (eg on your annual accounts) or is it making a small profit but you don't have the cashflow to pay anything to yourself?

You may be eligible for working tax credits, have you looked into this at all?

SHIMMY

I'm a sole trader, with very little profit and no cash flow - I keep what small bit I can in the business bank to pay the bills - I just keep treading water so I don't incur unnecessary bank charges.

I don't know anything about claiming any benefit but I'll certainly read up on these working tax credits.

Again many thanks
Shimmy

Jenny0050

Hello...

Sorry, I’m a scientist and have no business experience so I’m not sure how much help I can be-

but you say 'the passing trade is very slow'-you don’t mention what sort of business it is, just wondering if you don’t already- can you start trading on the internet too (eBay ??) –would that boost your income?

I hope things improve for you soon!

SHIMMY

Jenny0050 wrote: »

Hello...

Sorry, I’m a scientist and have no business experience so I’m not sure how much help I can be-

but you say 'the passing trade is very slow'-you don’t mention what sort of business it is, just wondering if you don’t already- can you start trading on the internet too (eBay ??) –would that boost your income?

I hope things improve for you soon!

Awww, thank you scientist lady - I should have said I'm a florist and its not easy competing with the large internet relay services - although, they got it coming...... people will start to catch on that all the admin fees and little bits everyone takes out along the route means that you get a far better service by contacting your local florist direct - KEEP THE HIGH STREET ALIVE, SUPPORT YOUR LOCAL SHOPS :T:T:T

cod3

Don't know about benefits, but how is your marketing? Are you in cahoots with all the local wedding and events planners, funeral directors etc? Can you offer incentives if such businesses refer customers to you?

All the best and hope your business picks up soon.

Jenny0050

Hello again SHIMMY !
I definitely agree with you- it’s better to buy from your local florist than a large internet company- the word needs spreading! I love to send flowers for special occasions and although they are OK from large internet companies, I find I get more for my money and they are fresher from my local trader.

As you stated in your original post, 12 month ago I wasn’t counting the pennies and I would ALWAYS have a fresh flowers in my house- I LOVE fresh flowers! However, things are tight right now and I rarely buy flowers for myself... When I think of florists I think £30-£40 bouquets ...I would be scared of getting laughed at if I went into my local florist and said look I’ve only got £4 or £5 I want to fill a vase in my living room..... If I've only got this budget then I would head to my local supermarket...

Is it possible to put together a ‘super value’ bouquet/bunch of flowers for £4 or £5- something bright and cheerful but cheap- do you already do one ???

If I knew my florist did one I would be in there every week!

Barbeduk

Wow, that is a fab idea, so is getting in touch with wedding venues and planners. What about funeral parlours. Yes, it sounds !!!!!ish bit I'm just trying to think of the events that generate a lot of flowers!!

Could you run courses, for example spring bouquets or Christmas wreaths?

I've also got a small business and it has been dire the last 12 months but strangely it has picked up in May. My DH works for another business 1 or 2 days a week. Is this anything you could do? It just helps with the cash flow.

Good luck!

Wow, I've been prevented from using the word I want in paragraph 1, not quite sure why as it's not a swear word! It is supposed to read g houlish.

Loft_Boy

Another idea maybe places like hotels large offices etc. With these places it will usually be the duty of the person on the front desk to order in flowers etc.

Get some Red Roses or something similar in to the shop. Go to the front desk of the hotel with a red rose and a business card attached. Explain you are a local florist and should they ever need flowers then to bear you in mind. You make someones day and also they will remember it so if taksed with ordering will think of you

Jenny0050

Another idea from me! ...

Do you sell tomato plants, etc...

If not already, could you do a promotion along the lines: 'grow your own fruit and veg- it'll save you pounds and taste so much nicer ?'

Would you be able to offer them 'local friendly advice' on growing fruit and veg ??...

It seems a lot of people are starting to grow their own at the moment!

lindsaygalaxy

I also think of expensive bouquets when I think of florists, but if you could do some cheaper options and advertise this I think you could get a fair amount of business - I know where I would prefer to buy flowers from! Also thinking of someones suggestion above, could you do wedding 'packages?'