Sunday, March 15, 2009

Beaten Philippine Fashion Industry

With the continuing global recession, industries in all areas are equally affected. In the Philippines, losing insurance companies are hitting the headlines. But, this is typically brought by poor management of these pre-need companies.

But, what is equally depressing is that more and more companies are losing their stable grounds to bankruptcy. The commerce industry alone is seeking loans, tax cuts, and salary-increase freeze among others to adjust with the economy's recession. The exporters are severely affected too by the global crisis especially, the present economic condition of US.

I just hope the government can sustain a fair, hopeful playing field for all enterprises. People will first and foremost, meet their basic needs before other things. Thus, the fashion industry among critical commercial areas is heavily affected. Our store is badly negated with the present crisis. This however compels us to consider an alternative business option that meets the basic-commodity requirement of the local people.

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