Friday, 22 May 2009
Today I will be mainly feeling anger
My oldest mate's marketing company has just gone under after eighteen very successful years.
It wasn't killed by the recession, as this report says, or by losing business from playstation, but by the banks.
About six weeks ago, with no warning, their bank cut their overdraft down to 10% of what it was. They couldn't get any credit from anywhere else, not from any other lender and there is nothing either local or national government had set up to help small businesses like theirs.
And they had business. Despite reports of major cuts in marketing budgets they had been gaining clients (it was a youth specialist, one of the first to be set up).
So twenty jobs have gone entirely because of the bank's malfeasance and with no help whatsoever from a government which bails out banks and has yet to prosecute any of the criminals in them but has done nothing for thriving small business hit by a credit crunch their billions is alleged to be helping end.
This makes me extremely angry, especially as he has weathered a series of major hits, including a huge fraud against him, the sorts of ups and downs that end many small businesses, and come out stronger through sheer hard work and bravado. He deserves better.
It really is time a few of those b(w)ankers were strung up as an example to others.