Income in the lower leagues increased to just over £500 million during the season 2007/08 according to Deloitte's latest figures.
For most clubs that figure will rise next season thanks to an improved broadcasting deal although with Hereford United dropping down a league they may miss out.
Players wages in League One rose by 27 per cent in League One and 8 per cent in League Two during the period.
"For larger clubs, playing to sold-out stadia, with strong demand for corporate packages and wide commercial appeal, the impact [of the economic downturn] may be limited," said Dan Jones, the author of the report.
"However, for smaller clubs, where demand is more variable and where significant excess capacity exists, the downside may be more pronounced."
Two other paragraphs from the report that relate to lower league clubs such as Hereford United.
Below the top two divisions, managing a club’s financial position remains a challenge from one season to the next. Legacy debt issues and the risks taken by some boards of directors will, without correction, inevitably lead to a continuing flow of insolvency cases in the seasons to come.
The economic downturn, driven and compounded by the unprecedented liquidity crisis, has led to a reduction in the amount of active investor interest in football clubs, and has also made some clubs’ proposed refinancing and fundraising more difficult to achieve until credit market conditions improve in due course. However, the fundamentals underpinning the development of the football business in England remain strong.
Text at top (next game etc)
Next Game: Rushall At Home In The League On Saturday 30th November At 3.00pm