How is the credit crunch effecting your business?

[Michael]

How is the credit crunch effecting your business?

I have noticed it in a few ways:

- Advertisers want to know more information before advertising to be sure that it is worth spending the money.

- More interest in making money online because people are loosing there jobs or want to earn money in there spare time.

- Programmers and designers are happy to work for less as they are finding it hard to find work.

- Webmasters are working harder because they realize times are going to get a lot harder and if they work now it should help them survive the credit crunch unlike our world banks.

I am personally living very frugally, making sure I only spend what I need, I also decided to work more hours to bring in more traffic, to cover the cut in my advertising budget. I can afford to advertise as much but when times are tough I feel I should now take some money from this website to make sure I will be not be to effected by the credit crunch.

How is your business coping with the credit crunch?

Michael..

[Scott]

It seems rather easy for my site to be coping; see at the moment, we've reduced our server size so we're not paying as much while we build our new user system and the site is off-line. Thus all we're really paying for is the domains and a small amount of hosting rather than a lot which we don't use.

But I do see where those points are quite valid; especially in regards to programmers and designers.

[Michael]

That is another interesting step, reducing your hosting. We have just increased our server size quite a lot but if we could bring the price down, we would!

[bizblogged]

It isn't jsut int he UK, it is big here int he US too, and it is the banks who create the depression.There are lots of people making lots of money right now off the blood and tears of ordinary people.


Bizblogged - Finance Blog, Finance, Economics,Corporate Finance, Personal Finance, Investing, Marketing

[MHJ]

I felt a slow down then a brief up tick in revenue. I think that things will be up and down unless business takes a huge dive in the near future.

[manojjonam10]

I didn't feel much of the effects of financial crisis in online businesses. Further most of the online giants are being immune to financial crisis. Although there is a drop I don't think it is going to affect us significantly.

[florentin]

I am actually trying to pay with a debit card instead of a credit card. It is a pretty hard transition to make, but well worth the effort and sacrifice.

[iketz0]

I think the big ones didn't affect them.. But we are now suffering recession now.. so i must say that all of us will encounter a hard time to work for money..

[TheGooroo]

You pretty much said it all Michael.