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Why Did This Happen and Where Are We Going?
It’s now February of 2009 and we have been in this economic downturn for 3 years. Yes, I wrote 3 because where I live and work we can trace this slump to November of 2005. I live and work in South Florida and after Hurricane Wilma came and went a whole lot of new construction homes, town homes, condominiums and conversions received certificates of occupancy. All those individuals who thought they were going to flip their purchase for a quick profit were sorely disappointed and of course this was just the beginning.
Companies at Risk of Administration in 2009We all know that 2008 was a hugely terrible year for companies and other kinds of small businesses, 2008 was the year that the credit crunch swung into full effect. The sheer pain of the credit crunch was revealed when companies started going bust left, right and centre.
