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“Comfort food” businesses

It turns out that some products and services are just like comfort food; when we are worried we buy more. Or at least as much.

Kit Hutchin of Church Mouse Yarns & Teas in Bainbridge Island, WA says:
“When there are tough times, people really do like to do something they can control. Knitters will always knit. They are passionate about it.”


knitting.pngI’d even add to that…making gifts instead of buying them is something people sometimes do when they are cutting back.

And yes, indeed, as I write this my sister Judy is on a road trip from Southern California to Arkansas to a needlework convention…price of gas be darned! (Is there a pun in there?)

Watch your business borrowers carefully, sure, but don’t assume everyone is in trouble.

What are your best ideas for separating the ones in trouble from the ‘comfort food’ business types?

About the Author
Linda Keith CPA is an expert in credit risk readiness and credit analysis. She trains banks and credit unions throughout the United States, both in-house and in open-enrollment sessions, on Tax Return and Financial Statement Analysis. She is in the trenches with lenders, analysts and underwriters helping them say "yes" to good loans. Creator of the Tax Return Analysis Virtual Classroom at www.LendersOnlineTraining.com, she speaks at banking associations on risk management, lending and director finance topics.