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The shop is known for its Make & Mingle sessions, which see people travel from far and wide with their own projects to knit, sew or craft in a group rather than complete the tasks at home alone.
Charities, such as Oscar’s Community Corner, also use space in the shop for their own crafting projects.
Westmacott continued: “We are working other jobs and don’t take a wage from the business at all, we put everything back in. We are personally pushing our own finances into it to try and keep things going.
“As much as the business is growing… it is a real struggle at the moment. We are in a difficult period.
“This [the fundraiser] is so we keep open and keep things inclusive and affordable.”
I’m an individual investor heavily influenced by Warren Buffett and Charlie Munger. Munger’s 1994 USC Business School Speech is something I think about a lot: “Over the long term, it’s hard for a stock to earn a much better return than the business which underlies it earns. If the business earns 6% on capital over 40 years and you hold it for that 40 years, you’re not going to make much different than a 6% return—even if you originally buy it at a huge discount. Conversely, if a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result. Another very simple effect I very seldom see discussed either by investment managers or anybody else is the effect of taxes. If you’re going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum. In contrast, if you bought the same investment, but had to pay taxes every year of 35% out of the 15% that you earned, then your return would be 15% minus 35% of 15%—or only 9.75% per year compounded. So, the difference there is over 3.5%. And what 3.5% does to the numbers over long holding periods like 30 years is truly eye-opening. If you sit back for long, long stretches in great companies, you can get a huge edge from nothing but the way that income taxes work.”
Analyst’s Disclosure: I/we have a beneficial long position in the shares of NVDA, AAPL, AMZN, EWY, GOOG, GOOGL, META, MU, SKHY, SPCX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Disclaimer: Any material in this article should not be relied on as a formal investment recommendation. Never buy a stock without doing your own thorough research.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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