Interview
Getting down
to business
Ruth Badger is biting mad about the economy, the government and a certain foreign secretary.
She tells Fiona Shield how to survive the credit crunch and why it’s still a good time to set up shop
We’re now officially in a recession, because people can’t lend any more. And that not really bothered about foreign affairs.
why do you think the UK economy has automatically sends a shudder across the That’s not ignorance, let’s just do a bit about
reached this situation? whole country. what’s going on here. I would struggle to
I can tell you straight away. It all started vote if there was an election today. I am quite
around 2001/2002. The credit world What are your financial predictions? opinionated, but I would struggle. I can’t
completely changed and the UK banking I think by the end of next year – I can tell you vote for the Labour party because I don’t
system was educated into the American my confidence in this, because I’m just about believe in what they’re saying, I really don’t
style. I’ve done this for donkeys’ years and to buy a share in a property business – the think the Conservatives know what they’re
I’ve watched it happen. lenders’ appetite will start to come back. saying and the Liberal Democrats are just
To be fair I’m probably part of the cause And I’m talking about on a consumer level, saying nothing! I’ve actually been invited
with my brokerage business. Money became property prices will begin to rise and we’ll on Question Time and I want to get on there
readily available so people at home on start to go through a steady growth. with Miliband because he drives me mad.
benefits could get a loan and a store card I really want to talk to somebody who can
and it was all about this “spend today, think What would you like to see the British relate to this 30-year-old business woman
tomorrow” mentality. If you actually look at government do over the next financial year? who’s had a working class upbringing and
it, all the fixed rate mortgages are coming to One of the things I’d love them to do paid tax since the age of 16, and tell me what
an end, payments are soaring and mortgages is actually cap the profits from utility this bloody government is doing for me. Don’t
are up to a hilt. companies, because it is pure greed. I must get me started on politics; I’ll go on for days!
The reason the economy is in such a bad be one of the only people in the country that
way is directly because of what’s happened can get British Gas to lower their bill! I just Would you say it’s important to stay
in America. Most of the funding lines and the called them and negotiated. positive about business?
lenders in this country come from America. When it comes to the government I’d like I have two sayings: attitude is the be all and
The Lehman Brothers, who owned three to see them acknowledge what’s going on end all, and hard work will out. If you’ve got a
lenders over here have collapsed, City have in the country, and actually address issues deal and you’ve got to work hard for that deal
pulled out and one of the biggest lenders, here instead of abroad. This doesn’t sound and close it, that’s where I make the majority
Firstplus, stopped lending from 1 August this nice, but forget about whatever is going on in of my money, where most people stop. And
year. It’s got to a point where irresponsible the rest of the world like the Russia/Georgia that attitude is all about times like this. But
lending over the last three to four years has conflict. When I’ve got a grandmother sitting again, it’s about setting that expectation level,
had a massive impact; what we’ve actually in Wolverhampton whose council tax is going not only with the customer, but also with
done is gone out there and spend, spend, through the roof because my granddad’s your staff. Businesses cannot afford to carry
spend and then all of a sudden it’s stopped pension has been increased by £1.10, I’m staff that are not productive.
46 TODAY’S BUSINESS WOMAN
T'sBW12 Ruth.indd 46 1/12/08 2:57:41 pm
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98