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Definitions vary, but not so differently. It's a nightmare scenario of slow, or stagnant economic growth - the stag bit- coupled with rising inflation.

It gripped the economy in the 1970's, remember the 3 day working week?. Economists thought stagflation, along with tartan bell bottoms and platform heels were consigned to history.

So can we forget Happy Days and expect a repeat of the seventies?

Many of the same conditions exist now that existed then, so, stagflation is possible, sky high oil prices, weak economic growth and prospects,plus high unemployment.

What can we do as small and medium size business' to 'weather the storm', or combat the stagflation?

We can work today, help each other, we are all in it, living in unprecedented times. Why are we different? Because we are hands on, we listen and we act. We are not regimented and inflexible. We are open, honest and play fair.