Into Administration … seems to be the latest buzz word on the High Street.
Just in the last week some top name brands have gone into administration … but Why?
Is it purely down to the economic crisis or have these companies gone into administration simply because they wouldn’t move with the times?
I remember where I used to buy my record singles years ago … the first one was Coward of The County by Kenny Rogers … what was the first record you ever bought?
That shop is now long gone and in my opinion was an icon in the High Streets all over the UK. Now we see other high street stores going into administration that are in that similar industry (of that one Department) of music, videos and games.
My question to you is how did they survive this long? What with mobile downloads of the latest chart music and indeed golden oldies available online; technology to beam the latest films straight to your tv or laptop; and the endless online shops to buy your games and indeed even your digital cameras.
My take on the demise of these High Street shops that have gone into administration is this … Hats off to them for lasting as long as they have on our High Streets.
Did they have all their eggs in one basket?
Yes it is a very sad day to see so many favourite names disappear, but how many times can they re-invent themselves.
Could they have made it online to boost their own sales? Who knows, perhaps we never will.
Into Administration … Bah Humbug … High Street Rejuvenised
However, there is always hope for our High Streets … if I walk around my local town today, I will see the latest shop ready to be emptied out as it is one of those companies gone into administration.
But I will also see the latest shop opened by a local venture … a wedding boutique; where you can organise all the things for your special day in one place. The shop is full of information of local businesses that supply goods and services from the industry. Local photographers, Cake bakers, stationary, fascinators and all sorts.
There is also a new shop selling products sourced from abroad, a new wedding venue, a new cafe, a new pizza delivery and a baby accessories shop too.
The local High Street in your town maybe changing too, take a look and see how many new ventures are being opened by local businesses. Is this time for a change? Perhaps YES! Are we going back to the days where local businesses serve their local communities?
Of course the product and service has to be chosen well, but I do see a change a happening.
Scared of Companies Going Into Administration?
Are you someone that wants to start their own business? But because of the economic crisis and businesses going into administration on a weekly basis … does it put you off?
For most of my life I would’ve stood up and be counted in that same category, but now I am a changed man LOL! Starting up my own business was and still is the best decision I ever made. I am lucky enough to have worked for a lot of diverse companies in my career; some of which were start ups and others established multi nationals. I can safely say I have learnt from their mistakes (not to say I don’t make my own LOL).
Running your own business means this to me … I have control of my family’s destiny. I am not going to lose my job because the company I work for goes into administration. If I lose my job it is purely because I was too rash, I got it wrong … no one else will be to blame!
P.S. To summarise companies going into administration, banks paying ridiculously low interest and the economy still on free fall … what are YOU going to do next?
P.P.S. Please think about taking control of your life and don’t worry about the copmanies going into administration, but think of the small businesses setting up everyday!
P.P.P.S. Don’t ignore the lessons of those going into administration but learn from them and take a different path today!