And I am going to ask you to imagine that you've run a hypothetical business.

Okay. I've got one in mind.

It's the bakery. Okay.

So my first question to you is, you are the CEO of a bakery business based in the UK.

Okay. It could be cakes or biscuits or bread, whatever you like.

What would be your biggest concerns in the market at the moment and related to running, running a company like that at the moment? Sure. So my biggest concerns is kind of like, the current economic climate.

consumers don't seem to have a lot of discretionary income right now, given the extremely high inflation and given, sort of the rising prices of energy as well.

And so I think cakes and the sort of nature of a bakery business is,

Customers may not be interested in spending a lot of their discretionary income on those, those sorts of goods that are not necessities.

so although it's a type of food, it's, it's very easily substitutable and, it's not required.

So I think that that would be something that I'd be quite concerned about.

I think like the cyclicality of the business might be something.

Yes. So that's in terms of sales, is it? Yeah. Terms of sales.

Yes. And in terms of other parts of the, the business, what would be worrying you as the owner of the business? Yeah, so that's sort of what I touched on as well. Like the rising energy prices I think is something that would really concern me.

especially due to the nature of the business where I'm presumably going to be baking and, creating these items in the store and the rising costs of energy are something that would of course erode margins.

And especially given the fact that I'm predicting that sales won't be, as high as, as we'd like, I think that that severely affects profit profitability of this business.

Yes. Yes, I would agree.