What I've struggled with in 2024 (and my solutions)

The last 12 months hasn't been easy. In fact, I think it's been more difficult than the pandemic years. With the rise of interest rates and cost of employment, things are very tough for my businesses. So what am I going to do about it?

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Who am I?
My name is James Sinclair and I'm the founder and CEO of The Partyman Group of Companies. I started building my business when I was just 16 as a family entertainer after that I built up an entertainment agency, then moved into building a leisure and day nursery businesses. Today we operate a £30 million business which includes leisure, childcare, outdoor attractions, commercial property, arts and crafts manufacturing as well as one of the UK’s oldest Ice cream companies; The Rossi Ice Cream Company.

⌚️Timestamps:

[CameronFussner]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[deft]

I’m not an entrepreneur, and not really interested in being one. But I appreciate the honesty and insight in your videos. They feel authentic. Thank you.

[kygo]

2 main issues in the UK, high accomodation costs and taxes...

After you've paid your extortionate rent / mortgage and all your taxes, you barely have anything left... then then still need to pay your council tax, road tax etc plus 20% tax any time you want to spend some money, and then like you said, the business then gets hit with taxes for employing people, before they even get paid... So £100 onces its passed through a few people is down to £20 and the government gets £80 of it, no wonder the economy is sturggling, everyone is broke!!

And then Labour come along and put the taxes up!

The UK is in trouble.

[davida]

James demonstrates perfectly that being successful is all about being on it at all times ..!

[thegoldridge]

Thanks James, i feel synergy with your business outlook, ethics and energy.

[Jacksonarchitecture]

Love that. Great advice, very inspiring and great value. Thanks James

[bob]

James, you're well placed for a career in politics if you ever wanted it in future; you are extremely capable, modest & a good communicator, continue to exude integrity & kindness, and I don't see why you couldn't get the top spot one day.

[richardsheppard]

Am a businessmen in Zambia and found your vids. We have multiple businesses and i think your videos are well balanced, honest and concise. As an expat that sold my first business in the uk at 19 then left its very interesting to see how things have changed.

[richardwallace]

I'm the only contractor I know that makes bluechip companies pay me upfront for jobs. To the absolute surprise and shock of other contractors I work with. Cash flow is of the upmost importance to me and when you are good at what you do I have proved that waiting 30 or 60 days on money is a choice, and not a choice I'm happy with.

[jaykemangion]

Solid advice James and great perspective as always., I needed this 😊 - 18 mths before a turnaround you say! we better get busy and grab that bull by the horns 💪

[seanfein]

Your positivity is helping me keep going. Thank you

[antoniodiciacca]

When money was cheap, people did not know how to run a business.

[readmycomment]

Really good video. Practical, well thought through, positive and actionable.

[PappaP_Yorkshire]

Truth right there. I feel like the hard times are that little bit easier with your content out there to guide us.

[MISSDELUCA]

Sometimes you have to take a step back and ask yourself is it all really worth it.
Workers have more rights than anyone sick pay etc.

[curlykidrecords]

Great stuff James. "Don't be bitter, be better" Businesses that were handed 10s (even 100s) of billions in covid grants and loans and did so very well in that two year period, should and need to pay that money back through taxation. It might mean growth of business slows, but the alternative to that is that ordinary people foot the bill and fall into oblivion and lose their homes, health and jobs. Ordinary tax payers have already propped up international finance following the 2008 debacle and felt an economic downturn for almost 20 years. Public services have been obliterated due to the bank bail and then more recently the covid business bailout. The reality was that low interest rates allowed very ordinary businesses to borrow very cheaply and boom off the back of that pain for the ordinary person. Corporation tax was lowered to on the lowest in Europe for years and austerity was poured upon everyday folk. Business (small, medium or big) has had it good and have had lots of free taxpayer cash, now it's time to take on their fair share of the pain and responsibility and we invest back into integral public services. The private sector works polemically against the public sector, and the public sector needs some help. Sadly you can't help both

[cameronbrindley]

As an Insolvency consultant business for us is doing well, however during covid we doing terrible because businesses had so much money.

[thedappercook]

Thsnks for your honesty James. Its brutal, we are feeling it too in the IT and Cyber industry

[Kaer]

Great video. Rings true for a lot of us. Brutal pressure from every angle. There will be a better and more prosperous day! Hang in there!

[seanthegekko]

Brutal...how much your phone vibrates. Life of a business owner