Entries at Hereford have held up well despite the recession

Hereford racecourse's clerk of the course says the track is coping well in the face of the credit crunch.

Despite fears of many in the industry, the track has maintained its level of entries for meetings.

Katie Stephens told BBC Hereford and Worcester: "There still seems to be a lot of horses about and on the whole trainers seem to be holding up.

"Hereford isn't flooded with meetings but from a racecourse point of view we have managed to hold up on our days.

While entries at the racecourse seem to be bucking the trend, there are other areas of the industry where the signs are not so good.

It is a buyer's market at the moment if you have got a few pennies to speculate Katie Stephens

Stephens said: "At bloodstock sales, some of the prices have been on the floor. There are not the prices being commanded that there were two or three years ago.

"But still there is money about for the good ones and it is the middle-to-lower tier that is being affected," she added.

Despite the perceived lack of investment in the industry, Stephens feels there are bargains to be had, and she hopes those who support the industry now might find success later.

"It would be great if something like that happened for racing - that is what keeps the dream alive," she said.

"It is a buyer's market at the moment if you have got a few pennies to speculate. The value that you are getting at the moment is immense at times."

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