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Not good they were great to deal with :perfect: I hope everyone involved isn't affected to much, I'll ask a few questions and see what I can learn.
 
Two of my best industrial suppliers shut down this week after 30 & 40 years in business .

One said November was his worst month since 1989 8.(
 
Australia continues to make it so hard for small to medium businesses. Been in Business for nearly 20 years now and just my safety expenses in the last 5 years alone has gone from 2ish% to nearly 8% out of my margins. Carbon tax was introduced eletricity bill went from 3% to 6% and even after tax was removed still paying more no reduction, just the QBCC alone this year cost $1000 as they now want smaller business to have financial audits for what reason, who knows. Trump might not be popular with the masses but reckon business owners would love him.

Sad to see another business close down
 
Hi, it's sad the number of businesses closing, and with them the loss of jobs.

I think it is probable many small rural towns are going to turn into ghost towns as well. The economy and businesses closing have a domino effect.

The GFC destroyed me, and It was hard times, but what I believe is coming will leave that in the shade.

The harder things get, the more worried people become, and they want to hang on to their money -- just in case. A vicious circle.

I cut back as much as possible: no-one in my immediate family buys each other gifts anymore, we are all adults, by the way, otherwise, we would buy for kids, we have a big family day with drink and food and we talk and laugh. We are keeping the money close and not buying much meat as it has become expensive to us, and I've been told cosmetics are getting expensive too, electricity and fuel are being restricted with the Sunday drive to get out of the house is only a memory now.

I think it strange that shop closed down as when times get tough I believe people gamble more in the hope, and getting into prospecting would be another way to bring home some money. Just my thinking. Anyway, that shop has people who are where now? On the dole?

Merry Christmas all, and I hope everyone has health and happiness and a great 2020, cheers.
 
People talk , there,s not much gold left for some and most of whats left is getting smaller, areas that are easy to get to are almost a waste of time now too, but the best thing is it gets you out of the house the drought no more running streams the country side looking very dismal and poor is a big turn off for some but good for detecting in real terms.
 
I don't believe any "downturn" had a great deal to do with it.
Mudgee is one of the busiest & one of the most prosperous towns in Central West NSW if not the most prosperous. The drought is having an impact but Mudgee has many strings in it's bow - tourism, wine, mining, agriculture, tree changers etc.

Speaking at the shop last week there were a number of things that lined up to ultimately lead to the decision. CWPS was one of the leading east coast Minelab distributors & I believe was awarded #1 shop last year. I'd assume their Australia wide online sales would have been a fairly major part of their overall sales.
Some of the things that led to their decision:
- Had been for sale since around May 2017 but hadn't sold https://www.prospectingaustralia.com/forum/viewtopic.php?id=21919
- Lease expired leaving them without a shop. The owners of the building are moving their business office front there. A new shop would have been more than double the current rent (retail property is expensive in Mudgee).
- Owner lives in Victoria & has a property + other business interest there. Long commute for any issues, checking on things etc.
There were also other factors.

Sometimes there are many other reasons businesses close apart from going broke or untenable downturns.

It's a real shame to see they thought closing was the best option as CWPS was a real bonus for the town, not just as a shop front but they were also community involved in a lot of things (i.e. organised Cooyal Gold Festival) as well as sponsors + contributors for broader area events.
Wishing them all well for the future :clap:

There is talk that a business closer to Newcastle may take over the authorised Minelab dealership? Time will tell.
 
OrangeNugget said:
yep truth is the government in australia has become a machine. serving only to protect itself . a skynet if you will. no longer serving the people as its supposed to do. its investing in itself to rob you more and more.
Click to expand...
google is skynet, but i agree with the rest of your statement
 
mbasko said:
I don't believe any "downturn" had a great deal to do with it.
Mudgee is one of the busiest & one of the most prosperous towns in Central West NSW if not the most prosperous. The drought is having an impact but Mudgee has many strings in it's bow - tourism, wine, mining, agriculture, tree changers etc.

Speaking at the shop last week there were a number of things that lined up to ultimately lead to the decision. CWPS was one of the leading east coast Minelab distributors & I believe was awarded #1 shop last year. I'd assume their Australia wide online sales would have been a fairly major part of their overall sales.
Some of the things that led to their decision:
- Had been for sale since around May 2017 but hadn't sold https://www.prospectingaustralia.com/forum/viewtopic.php?id=21919
- Lease expired leaving them without a shop. The owners of the building are moving their business office front there. A new shop would have been more than double the current rent (retail property is expensive in Mudgee).
- Owner lives in Victoria & has a property + other business interest there. Long commute for any issues, checking on things etc.
There were also other factors.

Sometimes there are many other reasons businesses close apart from going broke or untenable downturns.

It's a real shame to see they thought closing was the best option as CWPS was a real bonus for the town, not just as a shop front but they were also community involved in a lot of things (i.e. organised Cooyal Gold Festival) as well as sponsors + contributors for broader area events.
Wishing them all well for the future :clap:

There is talk that a business closer to Newcastle may take over the authorised Minelab dealership? Time will tell.
Click to expand...

and the bloke that knew what he was talking about no longer worked there !! dont forget that one !!
 
goldwright said:
Australia continues to make it so hard for small to medium businesses. Been in Business for nearly 20 years now and just my safety expenses in the last 5 years alone has gone from 2ish% to nearly 8% out of my margins. Carbon tax was introduced eletricity bill went from 3% to 6% and even after tax was removed still paying more no reduction, just the QBCC alone this year cost $1000 as they now want smaller business to have financial audits for what reason, who knows. Trump might not be popular with the masses but reckon business owners would love him.

Sad to see another business close down
Click to expand...

Trump is not popular with the Main stream media, especially in Australia.
Been a business man himself he strives to reward effort with fair taxation and sensible regulation.

Had a conversation with a small business owner early today and people in Australia who set up their own company and work hard are good Australians.
Go back to the smear campaign of the 2019 federal election here in Australia? Higher taxes, more regulations and less reward was all we heard from the
favourite to win? 8.( :lol: :mad:

Good on you Goldwright keep up the hard work mate! :Y: :goldpan:
 

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