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Pawnbrokers benefiting from the ongoing economic recession

While in the eyes of many people pawnbrokers are seen as an old-fashioned business with very little relevance in the markers of today, the ongoing economic recession is starting to change the view of many investors. It has been revealed that business across the pawn broking industry has increased significantly as the UK recession continues to bite and more and more people become more and more desperate to raise money.

H&T, one of the U.K.'s largest pawnbrokers, recently reported record profits which were assisted by the ever rising price of gold and a significant reduction in loan capital in the UK marketplace. This has seen more and more of the UK population reverting to pawnbrokers, pawning their most valuable items in the hope they can somehow raise the cash to buy them back at a later date. However, history shows that many people never return to their pawnbrokers to buy back their goods and with money becoming tighter across the UK this trend is set to continue for some time to come.

The old reputation of the pawn broking industry has certainly changed over the last few years and this is now becoming one of the more lucrative and recession proof businesses in the world. Indeed, even in boom times it seems many people still struggle although the sector has most definitely benefited from the recession.

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