PAWNBROKERS in East Lancashire have also been weathering the recession well.

Eric Carter, manager of Baileys jewellers and pawnbrokers, in Blackburn’s Northgate, said many people were selling their jewellery at present, and those buying were more interested in purchasing second hand.

He said: “There are more people selling than buying at the moment, but given the economy business is going well.

“People are currently much more interested in second-hand jewellery too. New gold is quite expensive at the moment.”

Ray Perry, chief executive of the National Pawnbrokers Association, said: ‘With banks often refusing to lend or being unable to satisfy demand for short to medium term small cash loans many of the public are using pawnbrokers instead.”

Last year, the total market grew 15 per cent with lending to individuals and small businesses accounting for half that growth.