2010 – year of the Tiger………..or was it the Pussycat ?
Yes, 2010 was not the roaring positive start to a new decade for many businesses and consumers as the UK slipped into, and technically out of, recession. Business and consumer confidence was low as the election loomed, with apprehension about the coalition government’s budget and CSR, (Comprehensive Spending Review). Interest rates remained low for the year; SME businesses stated banks were not lending with the banks saying they had the funds but few credible opportunities were presented by companies; house prices remained in the doldrums and, for first time buyers, getting on the housing ladder continued to be an issue. Standard rate VAT increases in January 2011 and retail sales are struggling at the end of 2010 with adverse weather adding to the general retrenchment by consumers. It appears that most businesses and many consumers seem to have curled up and let things pass them by this year. Is this the demeanor of a pussycat or a sleeping tiger waiting for an opportunity to pounce?
As 2011 is the year of the Rabbit, let us hope that the government, businesses and consumers activate themselves into stimulating the economy and not run around frantically finding the nearest burrow to hide in for the year…………
Remember, procrastination means never having to make a decision, but a positive attitude will inspire, stimulate and maximise the benefits from any opportunity. For businesses wishing to review operational performance, produce or update business plans or forecasts and implement strategic change, MW Interim Finance provides independent professional finance support to achieve your objectives. Visit www.mwinterimfinance.co.uk for further details.