Pritchard's Piece: Out of adversity comes opportunity

Pritchard's Piece: Out of adversity comes opportunity


 Let me welcome you all back to what could be a real crunch year for the survival of the industry and wish each and every one of you a very Happy New Year...

The facts speak for themselves, we are about to be faced by officially the worst ever economic situation which will not be averted, the only hope they have is to collectively play it down when in actual fact the answer would be to prepare for the worst and anything better is a bonus... Maybe not the most eloquent way to put things but it is at least the reality.

Even with this hanging over us I am feeling strangely optimistic about certain sectors of the market, and I honestly feel that as long as you take every opportunity presented, you will continue to survive. and with a little luck alter your business to fit in with the changing climate. Whatever your own thoughts there is still truth in the saying "out of adversity comes opportunity”.

So what do we look for in 2012? Perhaps more funding but that won't come from the traditional sources so new financial instruments are being created to raise cash to fill the hole, the only problem is finding the ones that are real and the ones that are not. There are lots of clever people with nothing behind them other than talk, so just be cautious when looking at these new funding lines and make sure if they charge they are at least in line with the market.

On the upside, we have already spotted a couple of genuine funders and this will hopefully be the start for us, however, we are always sceptical until they actually complete deals but everything points to a very positive conclusion at the moment!

On the social front I enjoyed seeing some friends just before Xmas but other than that I took a break from doing too many industry parties and have managed to keep my Liver and Kidneys going into another year, which I think is a Minor Miracle! And means that the ones I had ordered on eBay are not required quite yet... my New Year’s resolution is to reduce the excesses of my life so I have decided to stop drinking and smoking so much in fact I won't do either unless there is a Y in the day.

One last thing... What do you get if you lay every compliance officer end to end?

…Four hours of very pleasurable driving!

Have a happy and prosperous New Year



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