A recession is defined as two consecutive quarters with minus growth. We haven’t had those conditions. So we’re not in recession.

OK, things are tight.

But the news I get tells me that far more of you are actually doing quite nicely right now than are calling in the receivers.

There are, of course, a few receivers flexing their muscles, but the fat lady hasn’t even started warming up yet as far as I can tell.

Brokerage is doing OK. The chandlers are doing alright, especially those with good online business. And the rest of the SMEs that make up our industry seem to be doing OK.

New boat sales are not doing so well. Those at the small end that rely on earned income are faring less well. And I hear superyacht owners are almost coming out in sympathy by suggesting they should not be seen to be spending lavish amounts while things are tight for everyone else (like their own workforce, perhaps).

So what happens now? I don’t know. Nor does anyone else out there.

So what do we do now? We get on with it

Some will, of course, put on the tin hat and bemoan their fate. Then there will be those who take positive action. Which do you think will come out better when this passes, as it certainly will do.

As our legal expert Tim Reynolds recommends, don’t let your customers’ financial problems become your own problems. If they owe you money, get new customers.

This, of course, requires marketing and promotions. Which cost money.

And you must spend that money. If you don’t tell potential customers what you have for them, how will you attract new customers?

So make your ever-tighter money work harder for you.

As our PR expert Clive Bartlett said, change your marketing and promotions attack, perhaps. Make more use of the internet, maybe. Buy better advertising space and creative work. Send out more mailshots and e-shots.

Whatever you do – don’t stop spreading the word about you.

Because there will be lots of other companies out there making extra efforts to get new customers.

And if you don’t get to your potential customers, they will.