It's tough at the market, but we're fighting back

Welcome to Broadway Market - a microcosm of modern London.

With its rich mix of traditional shops and pubs coupled with galleries and delicatessens, and its proximity to the fashionable enclaves of Islington and Shoreditch, this area of Hackney has been booming.

This is a district where, on Saturday morning, young professionals shop for organic food at the revived street market, while locals old enough to remember the Blitz eat at one of the capital's remaining eel and pie shops, which has been in business for 80 years. In the surrounding streets are long-established factories and new workshops of ceramic artists.

Evening Standard visited the area to see if it is surviving the harsh economic times. It discovered that while many companies are feeling the pinch, others, are continuing to prosper. Among the hardest hit businesses are the smaller ones - a furniture manufacturer and estate agent have both seen profits plummet by 50 per cent.

Other firms have had to cut staff or reduce prices, while those keeping their heads above water are fearful they could soon fall victim.

In a sign of changing times, among those doing better than before are a fabric shop and studio which specialises in recycling and re-using materials and rediscovering the lost arts of mending and darning. "People are rethinking their values," said Barley Massey of Fabrications.

1. The clothing store
Black Truffle, 74 Broadway Market
The small boutique is as busy as ever at weekends, when it continues to turn a steady profit. Manager Emily Souter Johnson said: "We are not the kind of store that has customers who are going to be hugely affected by the credit crunch. Our clientele are the more arty crowd and they are still spending. I think people are minding the pennies a bit but we are not worried."

2. The pharmacy
Clarks Healthcare, 68 Broadway Market
Clarks Healthcare has seen a 20 per cent drop in profits over the past couple of months. It has also had to absorb higher costs from delivery firms due to the rising price of fuel.
Owner Geof Hundal said: "It's a worrying time because I have the same overheads, yet I'm losing profits. All of our suppliers, who usually give us 90 days to pay for stock, are now demanding it be paid for within 30 days, and one of our medical delivery companies has slapped on extra fees to cover their petrol costs. We really are suffering."

3. The cafe
Climpson and Sons, 67 Broadway Market
Business has been slower as people are choosing to have packed lunches instead of buying sandwiches and salads. Manager Kerry Tyrrell said: "We have seen a slight drop in food takings because people are being careful about what they spend. We still sell lots of coffee in the morning."

4. The estate agency
Blake Stanley, 11-13a Broadway Market
The agency has seen its profits halve since the credit crunch hit. Manager Nick Robinson said: "Property prices are down 15 per cent. Lettings are doing well because many first-time buyers are being priced out of the market and are looking to rent, but we have still seen a 50 per cent dip in profit. We had 10 members of staff but luckily three left for different reasons and we had a natural cull."

5. The grocery store
Altun Organics, 25 Broadway MarketSelling fresh fruit and vegetables, it boasts customers from a wide area. But in recent weeks owner Ugur Altun has had to put on special offers to entice people to spend. The shop, open for just a year, has seen profits plummet by £300 in a week. "It's a very quiet time," said Mr Altun. "People are just not spending as much as they were. I think some of my customers may also be opting for cheaper produce. I am putting on discounts to encourage people to keep shopping here."

6. The florist
Rebel Rebel, 5 Broadway Market
Owner Athena Duncan has lost business from large companies . She said: "The events side has definitely been affected by the credit crunch. We supply a lot of big firms with arrangements for their receptions, major corporate functions and Christmas parties. However we are not getting as many orders."

7. The bookshop
Broadway Bookshop, 6 Broadway MarketBusiness is slower than usual. Over the past six weeks, profits have seen
a steady decline. Owner Jane Howe said she had no plans to cut her staff of two, although she admitted she was worried. "We have got the same number of people coming in but they are spending much less," she said. "We have probably seen a 10 per cent decrease in profits weekly since the summer. It's a worrying time."

8. The pub
cat and Mutton, 76 Broadway MarketThe pub is doing well and expanding. Manager Andy Jones said the venue was adding an extra bar on the first floor: "We are mad in here on Fridays and Saturdays and are not feeling the credit crunch at all. We are selling a record number of Sunday roasts at the moment, so things are going well."

9. The butchers
H Tidiman Butchers & Poulterers,
57 Broadway MarketBusiness is booming as people buy meat to cook at home instead of spending money on eating out and takeaways. Owner Henry Tidiman said: "Business has never been so good. People are shunning their supermarket in preference for local shops, which is great for us. Butchers have become something of a novelty and a lot of people realise they need to support shops like ours to keep their local economy moving."

10. The fabric shop
Fabrications, 7 Broadway MarketBarley Massey, 36, who has run the shop, gallery and studio showcasing her textiles for eight years, is bucking the trend: "I think its going to be our best year since we opened. Our ethos is about recycling and reusing textiles and all our classes are fully booked — at this time people want to get back to repairing and darning and learning about arts and crafts."

11. The eel and pie shop
F Cooke, 9 Broadway Market
Bob Cooke, the fourth generation of Cookes to run the café selling jellied eels and pies, said trade was definitely down, but not disastrously so. "People are buying two pies, rather than three; there isn't as much money around as the used to be. But our customers are very loyal, so touch wood we will get through this. I think we have been through worse in the
80 years we have been here.''

12. The wholesaler
Edis Marbles, 93 Kingsland RoadThe tile and flooring company has made 15 of its 16 employees redundant since the summer and seen a 30 per cent drop in profits. Director Radia Kilic said: "Our suppliers are closing down and there is no demand from retailers. Things are looking very bad. We had to get rid of most of our staff because we just don't have the work."

13. The manufacturer
J K Bone, 404 Cremer Business Centre, Union Walk
The furniture maker, which has been running for more than 60 years, fears it is on the brink of closure. it is getting half the orders it usually does.
Co-owner John Berry said: "It's a frightening time for me. The orders I usually get are a third of the size and as a result our profits have gone down by around 50 per cent. The phone is just not ringing. I feel like I'm looking down a barrel at the moment."