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London 2012 official Logo Shrewsbury Accountants Morgan JonesWell, music artists that performed at the opening ceremony at the Olympic Stadium on 27th July, such as Mike Oldfield and the Arctic Monkeys, have seen a significant rise in sales since then and street vendors around Olympic venues have also done a bumper trade over the last two weeks. For businesses outside of the capital however, the Olympic effect has been at best mixed.

Whilst it is true that Team GB’s hall of medals has caused a national feelgood factor, which tends to give people a positive bounce and make them more productive, it has had negative consequences for many small to medium sized businesses. Pubs and restaurants in particular are counting the cost, with far more empty seats, than the Olympics. Anyone in the Tourism business has also seen numbers sharply decline, as have most small shops; and the reason? Simply put, Team GB are doing far better than expected and millions of us are staying at home glued to our TV’s.

On a more positive note to all of those depressed small business owners, the Games will be over soon and the population will quickly return to their normal drinking, eating and shopping habits. It is also worth bearing in mind that national sporting success, the best example being our World Cup win in ’66, has a beneficial overall effect on the economy and it tends to last for some months. Hopefully the positive Olympic bounce will also continue for a while and help bring us out of the doom and gloom of the recession.

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