In Any economic downturn there are winners as well as losers - and North Staffordshire's pawnbrokers are experiencing record levels of business as residents are hit by price rises and a shortage of traditional lines of credit.
Tills at other high street shops may be quiet, but many outlets specialising in short-term bridging loans, buying jewellery for cash or selling second-hand goods have never been so busy. The traditional Victorian image of the sector is wide of the mark, according to business owners, and they are well aware some of their new customers may be experiencing financial problems.
A spokesman at Hanley pawnbroker Albemarle and Bond said: "Yes, we have the odd person who comes in who's very nervous, but we soon make them relaxed. We're not here to judge or criticise.
"But we also have a lot of people we have built up a great relationship with and they come in just for a laugh.
"It could be a £10,000 diamond ring or a £30 chain - they both get treated exactly the same."
Pawnbrokers make loans - usually for six months - against valuables left by customers looking for immediate decisions and payouts.
Like many pawnbrokers, cheque cashers and second-hand goods sellers, Albermarle and Bond have seen transactions soar since the economic downturn and the credit crunch began to affect the man and woman on the street.
The spokesman said: "We have been here for eight years and it could be a record year - if not this year, then definitely next.
"The upturn started in January, there was a lull in April and then after that it went up again.
"It's the present economic climate and then in May and June people are looking to pay for holidays."
The National Pawnbrokers Association (NPA) has reported a significant increase in business volumes across the country.
A survey of its members, who represent about two-thirds of the pawnbroking market, found that 96 per cent had seen transactions rise in the six months to April.
Des Milligan, NPA chief executive, said: "The main factor has been the credit crunch.
"Growing numbers of consumers have found themselves shut out of the mainstream lending market as banks have tightened the screws. More people have turned to alternative sources for loans."
The association estimates there are about 800 pawnbrokers in the country compared with just 50 to 100 in the 1970s and early 1980s - and North Staffordshire has seen its own boom in the sector.
Cash Generator, which cashes cheques and sells new and second-hand goods, as well as offering a pawnbroking service, has just opened a franchise on Stafford Street in Hanley, creating five new jobs.
Cash Generator managing director Julian Urry accepted the slowing economy was a factor in his firm's growth - but he believes buying second-hand has been becoming more popular for some time.
He said: "For a long time now, we've been receiving requests for a store in Hanley and we're delighted to be able to open a shop in Stafford Street."
And Bryan Kirkham, pictured, says his Newcastle Cheque Exchange is making up for falls in sales at his other outlet - Kirkham's Jewellers.
He said: "We offer a number of services, bureau de change, money transfers and small loans, and we've been busy on all fronts.
"We also buy in unwanted jewellery and that's absolutely booming this year, which I think is definitely down to the credit crunch.
"We're buying in 100 times more than we were last year."
How is your business doing? Email us at
businessdesk@thesentinel.co.uk
Source: The Sentinel
More news in Staffordshire