As the Scottish vote for independence draws closer, our latest research reveals how Vistage CEOs and MDs are remaining confident despite some commentators fears of economic uncertainty and an independent Scotland.
I am pleased to share in my latest Economic Update that the UK economy is now growing across all sectors, with the exception of agriculture which shrank by 0.7% in the first quarter of 2014, but this is primarily due to the weather. Here are some of the key findings from my report in short form.
Following on from the promising news of the recent Vistage Confidence Index, the CBI’s latest SME Trends Survey shows that the UK’s smaller manufacturers are planning to boost investment in the coming year.
As the Chancellor George Osborne delivers his Autumn Statement this morning let us reflect on our latest education from Roger Martin-Fagg's economic update and look at the key issues and potential measures that business leaders should look out for.
I have recently run Masterclasses with around 100 MDs, CEOs, business owners and managers of successful recruitment companies from all around the UK and there is no doubt that the boom is here.
So, what can you do?
There is good news and bad news. First the good- GDP grew by 0.6% in Q2 in all sectors - even construction showed some life (although it is still 15% below 2008 levels). Consumption spending improved and retail sales were up 2% in volume terms.
In 2013 the hard truth is that over 50% of all SMEs that applied for bank loans or overdraft facilities were refused any lending. What's more shocking is that they when they were denied- they did not know where else to look? According to research 80% of business leaders who were rejected said that they were not given any information about alternative routes to finance.
Here is a list of 10 for your consideration.
Mr Posen’s main area for concern is the possibility of the Government reducing significantly its current level of support for economic activity before the financial system is fixed. He believes the result would be a shortage of credit for small and medium-sized non-financial enterprises – the types of business which benefit most from Vistage services – and this mismatch between supply and demand could trigger the double-dip.
In warning of a further slide downwards, Mr Posen is aligning himself with Vistage UK’s top speaker and leading economist Roger Martin-Fagg, who predicted some time ago that the recession would be W-shaped, with a further period of decline following a temporary upswing towards the end of this year, which would be largely due to businesses re-stocking.
We issue Roger’s bulletins on a regular basis to help members navigate their businesses through the currently turbulent waters. It appears that his prediction about the shape of the economic curve is now being echoed by a key person within the institution heading the UK fleet.