I agree.
Hubby has busted his hump for 17+ years but in the last 4 [gee..what *could* have happened since then?] we’ve watched our normal year-long waiting list dwindle to nothing.
He just finished his only kit order at brutally discounted prices and we are going to make hardly any profit.
People simply can’t afford even our low prices any more.
99% of our buyers are veterans and they’re terrified to make any moves for fear of cuts to their paychecks.
Just found out a friend of ours has left his desk duty post and is heading back to Afghanistan next month.
Not because he wants to [he’s been going there since the 90’s] but because battle pay is higher.
Wife and kids to support.
The Won has succeeded in crushing the small business people.
Only large chain stores remain open in my area.
All the ‘little guys’ are going or already gone.
Ironically, tonight as I waited in our 10 year old car for hubby to buy Super Glue to fix the reading glasses I can’t afford to replace, a 47%er mom and her kid frolicked out of the store loaded down with bags, wearing really nice new clothes I could never afford and hopped into their shiny late model Toyota 4Runner.
Don’t tell me we’re ‘failing’ for lack of any of the crap in that article.
And we still have to pay for the machine shop and all the equipment therein, even though it’s not making us any money, now.
The majority of businesses and people ‘failing’ right now are a direct result of The Won’s intentional slaughter of the “American Dream”.
It just goes to prove time and circumstance happen to us all. When you add the poison of "progressive" socialism the odds are stacked against "success". Its possible, but its getting harder and harder.
We can relate. It is brutal.
One thing I did was to spend a lot of time and energy finding discount sources for some of my supplies. Just scored nearly 2 years worth of one item at Goodwill (they bought up a liquidator’s inventory)that means I saved 80% on future cost of those supplies. One of my main suppliers of a consumable has produced their own brand, saving me another 50% on that item, while presumably keeping themselves alive. I am actually saving less, though, since my product uses a lot of energy to produce. Just had to raise my prices 10% and the buyers tell me they have never seen prices rise so much, so fast. Everyone is fearful.
My husband’s client list shrank to those w/government pensions or who work in education or medicine.
However, we dropped to 1/3 of income in 2008 and about 14 months ago, business improved to the point where we are now only down 50% compared to 2007. The New Normal. Ha!
My husband is hanging on to his hand machine tools, though (rolling mill/trip hammer/some others). Thank God, they are paid for. You never know when you’ll get an idea that will utilize your tools AND find a market.
As for firearms manufacture: we have friends who lost their shirts in that industry back when the economy was booming. Now, the partner with the FFL is feeling paranoid and wondering how many more *lists* he is about to be on.
Markets. That is the real problem, right now. And sales venues that don’t eat all your profit, time and personal energy.
My area is full of specialty micro businesses and people are really working hard to stay alive.
I held on for six months after it hit the fan. It was too much to bear, for me. Thirteen years, most of which were very successful, went spiralling down the tubes, and so quickly. I was caught by circumstance at a very bad time. Feeding attorneys is expensive even as plaintiff. Had to settle, took a big hit on that. Sold cars and a lake house to support both myself and the business but it wasn’t coming back. Nobody was buying, they were all paralyzed with fear, this was late spring of 2008. Then my dad died. I couldn’t do it anymore. I folded. Took a job with a former customer, one of the few still solvent and growing. Still there. Greatly reduced circumstance, but current on everything, able to save a little, holding my own.