Economic data seems to show that the UK economy is at its strongest point since before the worldwide recession.
But are businesses prepared to take advantage of an upturn in the positive new economic climate? Furthermore, on the day before the Budget, what will George Osborne do to help sustain growth?
To find out, National Business Awards surveyed firms throughout the country and have published their findings in a report entitled Business Without Barriers.
Within the report are a number of predictions for the year ahead alongside perceived “barriers to growth”. The report also contains what UK businesses would like to see in the budget 2014.
Kai Peters, the Chief Executive Officer (CEO) of Ashbridge Business School, says that there is not one specific thing that can be used to “prime” the economy. What he does suggest however, is that clarity is needed and that businesses require a predictable playing field. This is the sort of help that new Bank of England governor, Mark carney, was alluding to when he brought in his new policy of “forward planning”; giving businesses more of a “headsup” when changes in interest rates are expected.
Former CEO of Dyson, Martin McCourt, also has strong views on the subject. McCourt believes that British businesses need to take more of a critical overview on their product and services and urges UK SMEs to look abroad for new business.
One of McCourt’s main reasons for seeking overseas markets is not just a broadening of the financial net within which to catch more business, but in the even that another economic crisis strikes again in the future, exposure and vulnerability are decreased and so the risk has been spread.
For further information take a look at the video above or have a read through the National Business Awards report Business without Barriers (PDF).
If you’ve been committed to business best practice and you think your firm is in with a chance of winning, you can enter the National Business Awards for 2014, just enter here: www.nationalbusinessawards.co.uk