THE KITCHEN TABLE BUSINESS

What is a kitchen table business? Realistically it’s any business run from home or conceived whilst sitting at the table. Ideas based business, personal to you, your friends and family. These businesses hark back to a time when cottage industry supported whole families and communities.

Is this old fashioned idea the way for all of us to beat the Credit Crunch? Strange to say, but it might be. Our economy is based on our ability to spend, spend, spend and without the availability of credit the only way we can beat recession is by individually creating our own surplus cash.

Over the last few years whenever we reached a limit with our credit cards, the bank raised our limit or offered us a consolidation loan. Now as scary as it seems most of us are mortgaged and financed to the hilt and the banks have changed their lending criteria.

With no one to throw us a life line who will save us? Not the State obviously, as hard times bite they with be the first to ration any reserves which have not been used to bail out the banking system. Not the banks who have lost their reserves in the black hole of bad debt they created.

Like many families all over the developed world we are learning a lesson for the future. Credit like life is uncertain. Hopes and dreams built on spiralling debt are in reality nightmares wait in the dark for the long night of recession to fall.

Our only hope is to take a trip down memory lane and slip into a less nannied state of mind. Stand up and take charge of our own future. A future where “the kitchen table” business will be the norm and large personal debt will merely a page in ancient history.

If you have any kitchen table ideas you would like to share our forum will be available soon. Or just email us you ideas and we will post them here.

• Weekly Thoughts: Bittersweet Credit Card Moment Well, it's official: the cash-back reward from my credit card is being credited to my October balance.  Thanks to choosing a card that offers some pretty serious rewards, as well as making an effort to put almost all my spending on said card, I've managed to build up over two......
• The Government may owe YOU Money - Be careful when doing your 2009 Taxes While reviewing The Wall Street Journal's Personal Finance Site, I came across a great article written by Tom Herman titled, "Early Filers Piles on Errors."  Mr. Herman highlights Most people who got a payment last year won't qualify for an additional credit on their 2008 return. But millions of people......
• Frequency & Monetary Analysis For Subscription Based Services Frequency (F) and Monetary (M) analysis, form together with Recency (R) the framework of RFM analysis. Though recency is the strongest predictor of future behavior, frequency and monetary analysis act in a complementary mode (to recency), to create a complete picture of the Customer behavior. There are many cases......
• 'Tis the Season to be Saving The retailers are nervous about the final outcome of the Christmas selling season. Do they have reason to be concerned? It seems that they do. The National Foundation for Credit Counseling (NFCC) conducted a survey to determine how consumers intended to fund their holiday shopping this year. The 3800 survey......
• Weakon 117: Intro to Government Spending Founding principle #3 of Weakonomics is based around our government. We spend too much, money isn't spent in the right places, we don't tax efficiently, etc etc etc. Today's lesson is going to talk about how our government spends money. We might go off on a tangent or two, but......

Tags: be your own boss, changing your life, credit crunch, home, kitchen, making money, money, working from home

This entry was posted on November 24, 2008 at 11:23 pm and is filed under Crunchie's Cash. You can follow any responses to this entry through the RSS 2.0 feed.