Credit Crunch

Unfortunately there seems to be a constant stream of bad news for local businesses in our area. Consumers are tightening their purse strings and becoming more careful about their purchases.

I wondered if there were are any organisations in our area that are seeing a boom in profits? When times are hard we have to pass certain luxuries by and even sell some of our treasured possessions.

It seems that shoppers feeling the strain of the credit crunch are turning to charity shops and the weekly car boot sale for their bargains.

Fred Allson is the organiser of the Sedgefield car boot fayre and one of a few who have seen an increase in trade because of the credit crunch.

He says, "A lot of people are clearing their goods out and they are trying to bring money in.

"If you're sensible about it and you put the right price on your goods you will sell it no problem."

It may seem that the country is on the verge of recession but is it boom time for pawnbrokers?

Denise McDougall, Pawnbroking Supervisor with Herbert Brown Jewellers and Pawnbrokers says, "It's a very good way for people to get money quickly."

You can hear more about those who are benefiting from the credit crunch on the John Foster Breakfast Show and with Neil and Diane on Monday 13th and Tuesday 14th October.