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Poll: Is your business being negatively affected by the current financial crisis?
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 05:31
SITE STAFF
Oct 3, 2008

This forum topic is for the discussion of the poll question "Is your business being negatively affected by the current financial crisis?".

This poll was originally submitted by Kate Hudson

View the poll here

A forum topic will appear each time a new poll is run. For more information, see: http://proz.com/topic/33629


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Nicole Schnell  Identity Verified
United States
Local time: 05:31
English to German
+ ...
No. Oct 3, 2008

Without the help of cherished colleagues and freelancers I couldn't handle the workload provided by existing customers. Any new inquiries might even go unanswered.

Business as usual.


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Anhilgen  Identity Verified
Spain
Local time: 14:31
Member
English to German
+ ...
Not at all, quite the opposite ... Oct 3, 2008

But I am sure it is still too early to tell.

[Edited at 2008-10-04 07:01]


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Cecilia Civetta  Identity Verified
Italy
Local time: 14:31
Member (2003)
Italian to Spanish
+ ...
Maybe (?) Oct 3, 2008

I have little or no work for this weekend, which is quite an abnormal situation.

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Elena Carbonell  Identity Verified
Netherlands
Local time: 14:31
Member (2007)
English to Spanish
+ ...
I was waiting for this poll to come Oct 3, 2008

I was waiting for someone to submit the poll.
Luckily I have to say that at the moment I have more than enough although I have to admit that a few weeks back there was a moment when I panicked because I didn't get anything for a few days.
Not to worry though, if there are some slow moments I can get the time to do the much dreaded administration work or TM and glossaries maintenance.
My guess is that if the situation gets worse, we will all feel it.

[Edited at 2008-10-03 14:34]


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Diana Arbiser  Identity Verified
United States
Local time: 06:31
English to Spanish
+ ...
No, but... Oct 3, 2008

Anette Hilgendag wrote:


But I am sure it is still too early to tell.


Exactly. And, same as Cecilia, I have no work for this weekend, but I actually consider it very lucky! Finally, a free weekend!

[Edited at 2008-10-03 14:46]


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xxxInterlangue
Angola
Local time: 14:31
English to French
+ ...
No... Oct 3, 2008

Not yet! It may take (quite) a while...



[Modifié le 2008-10-03 15:11]


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Sanmar
United Kingdom
Local time: 13:31
English to Dutch
+ ...
Busier this month Oct 3, 2008

I am actually busier this month than I have been in a while. However, I have lost a couple of US clients in the past year who have either decided to have the work done in the US instead or who have drastically cut down on the amount they have translated due to cost cutting reasons. Some internal company memos I have seen have made it clear that big businesses are finding it increasingly difficult to borrow enough money on fairly favourable terms, if at all. I believe that these developments will, sooner or later, be felt by everyone.

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Barbara Cochran, MFA  Identity Verified
United States
Local time: 08:31
Spanish to English
+ ...
Not So Far Oct 3, 2008

Like Anette, it is too early to tell what kind of economic fallout the meltdown is going to have on the translation business. I imagine it will have some, but so far, none of my regular clients have curtailed the use of my services.

Interestingly enough, I raked in more money in September from translation work than I ever have since I re-entered the field in 2005.

[Edited at 2008-10-03 15:26]


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amurati
Local time: 14:31
English to Albanian
+ ...
Finacial crisis Oct 3, 2008

Currently I am not affected at all by current financial crisis due to a fact that currently I am working on a project and the payment is done only with Euros and in My country where I do reside, Kosovo, the valid currency is Euro.

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Marie-Hélène Hayles  Identity Verified
Local time: 14:31
Italian to English
+ ...
Not at all Oct 3, 2008

I'm as busy as ever (i.e. very busy indeed, too busy to be procrastinating here).

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Jenni Jelse  Identity Verified
Sweden
Local time: 14:31
Member (2007)
English to Swedish
+ ...
Not yet Oct 3, 2008

I haven't noticed anything yet, but I also believe that it's too early to tell. I've been freelancing for 7 years or so and haven't had to work through an economic crisis yet. Would be interesting to hear from people who've been freelancing for a long time - did they suffer from previous economic crises?

We'll have to see if things get worse and how the real economy will be affected...


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Lawyer-Linguist  Identity Verified
Portugal
Local time: 13:31
Dutch to English
+ ...
No Oct 3, 2008

But then again that's simply because the legal profession feeds to a large extent off the misfortune of others, and the type of documents I work on simply have to be translated there and then - i.e. they cannot be postponed, unlike perhaps other areas of translation such as tourism - so I'm as busy as ever.

Can't say "busier" because I physically cannot take on more than I already do, but I'm certainly turning down a lot of work - especially in the Dutch to English language pair.

The other way we can be affected, of course, is if agencies are undercapitalised and fail to meet their obligations because they cannot obtain further financing to tide them over until their own clients pay.

Again, I'm lucky - touch wood - to have a very stable and good mix of agency and end clients, but I'd urge all colleagues to be especially vigilant these days and to act immediately if they experience any delay in payment.




[Edited at 2008-10-03 15:47]


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Rebecca Garber  Identity Verified
Local time: 08:31
Member (2005)
German to English
+ ...
No, at least not yet Oct 3, 2008

I translate technical documents, and, at the moment, companies are still manufacturing. However, I've already seen some negative announcements from some manufacturers, so there could be an affect in the future.

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Christine Andersen  Identity Verified
Denmark
Local time: 14:31
Member (2003)
Danish to English
+ ...
Not yet... Oct 3, 2008

But I translate into English, which is not a very sensitive language!

During the last crisis European colleagues suffered as the 'smaller' languages were dropped, and Germany was in a decline. It was assumed that people like Danes and the Dutch understand English, so it was business as usual for me. Well, almost.
It's not fair, but that's life.

But I am struggling to keep up, very much as usual, at the moment!



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