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Companies closing down


LightBulb
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7 minutes ago, LightBulb said:

There seems to be a few companies suddenly closing down recently, ( Waltons, Lights of Mann, ATS ) what is the main reason for this, is it the internet ?

Companies are constantly closing and opening. Just part of the cyclical nature of our economy. 

 

Trading conditions are difficult at the moment. Residents seem to have very little disposable income and are being rinsed for every penny by the government in stealth taxes and increased charges. 

 

I believe we'll see several small businesses on Douglas Promenade being the next to close as they're trade has been decimated by the 'improvement scheme' and horse trams. 

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It's similar round here (North Norfolk).  Round here it's down to on-line shopping providing reduced prices and wider choice. It's a no-brainer.  We wanted a new TV just before Christmas last year. A few minutes on the web and I'd found one with free next day delivery at a very good price and very good guarantee package that covered four years. Why even think of shopping locally? Same with our weekly shopping. We now use Morrison's based on prices and choices and Waitrose for high end products (they do a great range of kosher nosh!) All on line and timed delivery. We're even using "buyacow.com for very good quality meat - delivered.

Buying from shops is now just a waste of time and money.

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It goes without saying that some of the retailers provide a good service; however, they don't really bring in revenue to the island economy. On the other hand, consumer savings (money they then have spare) aren't really contributing much to the island economy either as it's largely British (non-Manx) people living here spending money outside the Isle of Man.

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1 hour ago, Rushen Spy said:

It goes without saying that some of the retailers provide a good service; however, they don't really bring in revenue to the island economy. On the other hand, consumer savings (money they then have spare) aren't really contributing much to the island economy either as it's largely British (non-Manx) people living here spending money outside the Isle of Man.

Err, are you really sure of that?

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7 minutes ago, Rog said:

Err, are you really sure of that?

Yes, I know it for a fact. The census shows over 50% of the island was not even born here. If they're spending the money online, it's from websites that are not located on the island.

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3 minutes ago, Donald Trumps said:

I believe it has been established that those with incomes higher than the median are more likely to save their money & spend it off island

Those on low to median incomes are more likely to spend here

Companies will continue to close and at least 50% of the working population (in any job which requires physical or cognitive repetition) will become obsolete due to advances in automation over the next 25 years. We need to introduce a system of universal basic income, as Andrew Yang is proposing in the United States.

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9 minutes ago, Rushen Spy said:

Companies will continue to close and at least 50% of the working population (in any job which requires physical or cognitive repetition) will become obsolete due to advances in automation over the next 25 years. We need to introduce a system of universal basic income, as Andrew Yang is proposing in the United States.

universal basic income ?

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16 minutes ago, Donald Trumps said:

I believe it has been established that those with incomes higher than the median are more likely to save their money & spend it off island

Those on low to median incomes are more likely to spend here

So attracting HNWI here, isn`t helping our ecconomy then ?

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