The down turn in the economy has been the number one cause for so many ventures closing their doors

Jobs in Manchester have been affected a reasonable amount by the results of the recent economic down turn in the economic climate. There have been recent government cuts across the board and a lot of enterprises both big and small have been pressured into early closure. There have been a couple of aspects connected with this pattern for corporations closing down and this article will look at some of the concerns that have forced a lot of businesses to shut down for ever.

The slow down in the financial system has been the number 1 cause for so many organizations closing their doors to their customers. Increasing unemployment that is due to a slowdown in production and general cost cutting by many companies has forced a lot of people on to unemployment benefits. With more people jobless there is less spending going on and this has an effect on retail out lets and businesses and also the companies that supply them with their supplies and products. It is like a vicious circle the worse the situation gets the more the economy suffers.

The government has handled this situation which was in part caused by themselves and more so the banks and money lenders, by increasing taxes and cutting down public spending. Rises in VAT and fuel tax has impacted so many businesses day-to-day running costs. Small building firms and self-employed tradesmen have suffered a lot, a combination of rising taxes and a deficiency of work has slashed the profit margins of many a small contractor. A lot of the sole traders have gone bust due to the recent recession, which again boosts the number of unemployed which inevitably means less money in the economy.

A recent announcement from our government said "we were half way through a seven year recovery" this is not the news that small business owners want to hear and not so good news for jobs in Manchester either. The banks are still earning money and let’s face it; it’s their fault that the nation as a whole and not just Greater Manchester is in such a muddle. Money should be taken from these large establishments to help the small businesses and the companies that are struggling to keep their heads above water. The boss's at the high street banks do not need massive bonuses that well out weigh what they really do, this money should be put back in to the country’s financial system to help restore the damage that they have done in the past few years.

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